Cairo – Mubasher: Speed Medical Company has signed a financing agreement worth EGP 1.57 billion with GEM Global Yield (GGY), the Luxembourg-based private alternative investment group.

Under the three-year agreement, the investment group will provide Speed Medical Company with a share subscription facility to use at its discretion.

The Chairman of Speed Medical, Mahmoud Lasheen, said: "The new facility will provide financing that can be deployed for acquisitions, out aggressive expansion plans, new venture financing as well as consolidating current bank obligations."