Speed Medical SAE, Secures EGP 1.57 Billion Capital Commitment from Global Emerging Markets (GEM)
8.9.2021 17:15:00 EEST | Business Wire | Press release
Speed Medical Company (EGX: SPMD), today announced a EGP 1.57 billion capital commitment from GEM Global Yield LLC SCS ("GGY"), the Luxembourg based private alternative investment group.
Under the agreement, GGY will provide Speed Medical Co. (SPMD) with a Share Subscription Facility of up to EGP 1,570 million for a 36-month term to use at its discretion, subject to agreed upon terms. The company will have no minimum drawdown obligation and is authorized to utilize the facility on an as-need basis over the life of the agreement.
“We are pleased to receive what we believe is potentially lower cost and less dilutive financing, as the company controls the timing and amount of each drawdown. The new facility will provide financing that can be deployed for acquisitions, our aggressive expansion plans, new venture financing as well as consolidating current bank obligations. The facility will help the company to maintain its growth and at the same time start distributing cash dividends to its shareholders commencing in the coming year,” Chairman of SPMD, Mahmoud Lasheen, was quoted.
About Speed Medical SAE
Speed Medical SAE (known as: Speed Medical), is a publicly listed company on the Egyptian Stock Exchange (EGX) since March 2019. Speed Medical operates in the Health Care Sector. Speed Medical is based in Cairo, Egypt and was Established in December 2015. Speed Medical is currently operating a large scale medical lab chain in Egypt under the name “Speed Lab”. In addition, SPMD operates a series of polyclinics under the name “Speed Clinic”, has established a 140-bed hospital in East Cairo, and has announced partnerships that include COVID19 drive thru testing sites and Vaccines sites.
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, Luxembourg-based private alternative investment group with offices in Paris, New York and The Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210908005801/en/
Contact information
Global Emerging Markets
Mr. Jean-Luc Bonnefoy
jbonnefoy@gemny.com
Speed Medical SAE
Mr. Adel Khalil
adel.khalil@speedlab.com.eg
facebook.com/speedlabeg/
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BeOne Medicines Highlights Rapidly Accelerating Solid Tumor Franchise at ESMO 202619.10.2026 13:00:00 EEST | Press release
BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that data from across its rapidly progressing solid tumor portfolio will be presented at the European Society for Medical Oncology (ESMO) Congress 2026 on October 23-27 in Madrid. Presentations will highlight an accelerating pipeline of differentiated targeted therapies, alongside a broad body of evidence for TEVIMBRA® (tislelizumab), including a late-breaking rapid oral presentation on TEVIMBRA in combination with ZIIHERA® (zanidatamab) in HER2+ gastroesophageal adenocarcinoma (GEA). Priority pipeline data include an oral proffered paper presentation on BeOne’s GPC3x4-1BB bispecific antibody, currently being studied in hepatocellular carcinoma (HCC) and first-in-human data for two investigational lung cancer assets, a CEA targeting antibody-drug conjugate (ADC), in CEA-expressing non-small cell lung cancer (NSCLC), and a brain-penetrant PRMT5 inhibitor in MTAP-deleted tumors, inclu
The Data Center Marketplace Is Booming, Inaugural Data Center World Europe Unites Data Center and Energy Decision-Makers and Experts in Vienna19.10.2026 13:00:00 EEST | Press release
Last week, Data Center World Europe, where data centre developers, AI and cloud providers, energy and utility operators, and solution providers come together to drive the development of an AI-ready, sustainable future, united leading operators, technologists, cloud providers, hyperscalers and energy management innovators over three days at VIECON – Vienna Congress & Convention Center in Vienna, Austria. It was co-located with the leading global network infrastructure event Network X, where data centre developers, AI and cloud providers, energy and utility operators, and solution providers come together to drive the development of an AI-ready, sustainable future, united leading operators, technologists, cloud providers, hyperscalers and energy management innovators. Tara Gibb, Senior Director, Data Center World Europe said, “The conference tackled the industry’s most urgent challenge: transforming Europe's data centre energy landscape. We brought together leaders from across the data ce
First and Only Ulcerative Colitis Treat-to-Target Trial Shows Treating to Disease Clearance vs. Symptomatic Remission with ENTYVIO ® (vedolizumab) Prolongs Time to First Disease-Related Complication19.10.2026 12:30:00 EEST | Press release
Takeda (TSE:4502/NYSE:TAK) announced new data from VERDICT (NCT04259138), showing that treating adults with intravenous ENTYVIO® (vedolizumab) to achieve corticosteroid-free (CSF) disease clearance versus CSF symptomatic remission alone, resulted in a significantly longer time to first ulcerative colitis (UC)-related complication (hazard ratio 0.33 [95% confidence interval 0.17-0.67]; P=0.0014), reducing UC complication risk by nearly 70 percent. VERDICT, a Phase 4 ENTYVIO clinical trial, provides the first prospective, randomized evidence that disease clearance is an achievable and clinically relevant target in the treatment of moderate to severe ulcerative colitis.1 Results were presented during late-breaker and poster sessions at United European Gastroenterology (UEG) Week 2026 and published in the United European Gastroenterology Journal. “There has been increasing conversation about whether achieving deeper levels of remission – addressing both visible and microscopic inflammation
Boomi Acquires Elementary Data to Bring Trusted, Governed Data to the AI Era19.10.2026 12:00:00 EEST | Press release
Boomi, the data activation company for AI, today announced it has acquired Elementary Data, a provider of the widely adopted data observability solution that powers every workflow and AI agent with reliable data. Following Lunar.dev, Elementary is Boomi’s latest acquisition, strengthening the Boomi Enterprise Platform with the observability, quality, governance, and discovery capabilities enterprises need to deliver trusted data for AI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019376249/en/ Boomi Acquires Elementary Data to Bring Trusted, Governed Data to the AI Era Key Takeaways What Boomi acquired. Elementary provides unified observability, quality, governance, and discovery. Founded in 2022, Elementary began as an open-source project — now adopted by 1,500+ data teams, with 1.1M + monthly downloads, and a ~4,000-member community. In 2024, it launched Elementary Cloud which added enterprise-grade capabilities on t
Reply Earns “NVIDIA Physical AI Specialization” for Production-Ready Robotics and Digital Twins19.10.2026 11:00:00 EEST | Press release
Reply [EXM, STAR: REY] is among the first NVIDIA partners in the world to achieve the “Physical AI Specialization” within the NVIDIA Partner Network (NPN), in recognition of its expertise in developing and deploying AI-driven robotics and digital twin solutions for real-world operating environments. The specialization was awarded following a technical assessment covering a customer implementation, solution architecture, certified OpenUSD expertise and Reply’s development roadmap. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019881053/en/ Reply is among the first NVIDIA partners in the world to achieve the “Physical AI Specialization” within the NVIDIA Partner Network (NPN), in recognition of its expertise in developing and deploying AI-driven robotics and digital twin solutions for real-world operating environments. Physical AI is becoming increasingly relevant in manufacturing, warehousing and logistics as companies mo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom