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
Arc'teryx Introduces System 0™, a New Framework for the Future of Product Design and Circularity26.8.2026 16:00:00 EEST | Press release
Arc'teryx Equipment, the global design company specializing in technical high-performance apparel and equipment, today introduced System 0™, a new framework that reimagines how products can be designed, manufactured, used, repaired, and ultimately regenerated. System 0 represents the next evolution for sustainability in the outdoor industry, as it embeds circular thinking across an entire product lifecycle while maintaining the uncompromising performance standards that define the Arc’teryx brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260826686539/en/ Arc’teryx athlete, Craig Murray, wearing the Sperro SV, a multisport mountain-grade hardshell built with circular design principles, available September 4, 2026. The first product being introduced as part of the System 0 platform is the Sperro SV jacket, a multisport mountain-grade hardshell engineered for durability, repairability, and disassembly at end of life – the
Xsolla Announces Five-Year Partnership With the Global Esports Federation26.8.2026 16:00:00 EEST | Press release
Xsolla, a global commerce company, today announced a landmark five-year strategic partnership with the Global Esports Federation (GEF), the world-convening body for esports. As GEF's exclusive partner for commerce, payments, wallet, loyalty, and distribution, Xsolla will power the entire GEF ecosystem, including the flagship Global Esports Games, pro-series Global Esports Tour, global GEFcon, and 180+ Member Federations across five continents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260826948844/en/ Graphic: Xsolla The announcement comes as GEF marks 100 days to go to the Los Angeles 2026 Global Esports Games (GEGLA26), adding further momentum to the road to Los Angeles and GEF’s flagship global esports celebration this December. The partnership launches at the GEGLA26, where Xsolla will begin serving as the unified commerce and payments layer for the GEF ecosystem. Across GEF properties, in more than 200 markets, Xso
FlightSafety International Reaches Agreement to Acquire Acron Technologies’ Commercial Training Solutions26.8.2026 16:00:00 EEST | Press release
FlightSafety International Inc. (FSI), a leading global provider of aviation training and simulation technology, today announced it has signed a definitive agreement with Acron Technologies, a portfolio company of TJC LP, to acquire its Commercial Training Solutions (CTS) business, including its Training Systems, Training Services, Aviation Academy, and Driver Training portfolio. The agreement marks a significant expansion of FSI’s capabilities in the commercial aviation market, broadening and complementing its simulator manufacturing capabilities and global training footprint. CTS brings over eight decades of experience in commercial aviation training and simulation. With a long-standing heritage in commercial airline simulator manufacturing, CTS has delivered more than 850 training devices throughout its history, with over 300 full-flight simulators currently in operation worldwide today. Its training and manufacturing locations across the U.S., U.K., and Thailand support pilot and d
NABEP Appoints Sara Chouraqui as General Counsel26.8.2026 16:00:00 EEST | Press release
North American Blue Energy Partners (NABEP) has appointed Sara Chouraqui as General Counsel, with Elizabeth Collery and Victoria Jacobson each joining as Deputy General Counsel. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260826168543/en/ Sara Chouraqui joins NABEP as its General Counsel, bringing decades of legal expertise. These additions significantly strengthen NABEP’s senior leadership team and legal expertise as the company improves its operations, increases production and develops new strategic and commercial partnerships. As General Counsel, Chouraqui will lead NABEP’s global legal function and advise the company’s leadership on its legal, regulatory and corporate priorities, including major transactions and partnerships, governance, compliance and the management of legal and regulatory risk across the company’s operations. Her experience navigating complex cross-border legal and regulatory matters will be particu
Grafana Labs Crosses 10,000-Customer Milestone as AI Adoption Accelerates Growth Across the Platform26.8.2026 16:00:00 EEST | Press release
Grafana Labs, the company behind the open observability cloud, today announced it has crossed 10,000 customers worldwide and surpassed $600 million in annual recurring revenue, as organizations standardize on open observability for the AI era. Teams need AI to help them understand their own systems faster, especially as complexity and overhead remain the top observability concern cited in Grafana Labs' 2026 Observability Survey – a need reflected by the adoption of Grafana Assistant, Grafana Cloud's context-aware AI agent for exploring and troubleshooting observability data, now used by more than 18,000 organizations. Teams also need observability purpose-built for AI systems themselves: When teams move AI into production, models drift, agents take unexpected actions, token costs spike without warning, and the latency and error signals that caught problems for the last decade don't explain what went wrong. The same survey found 57% of organizations are now implementing LLM observabilit
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