Arab Finance: City Lab is planning to fully acquire five Egypt-based labs for a total of EGP 1.051 billion, as per a filing.
The company aims to acquire Hassab Labs for EGP 280 million, Cairo Clinical Lab for EGP 59 million, Town Lab for EGP 50 million, Ezz Laboratories for EGP 275 million, and another lab acquisitions firm for EGP 386.7 million.
The value of the deals is not final, pending the determination of the companies’ fair value by the independent financial advisor.
City Lab seeks to increase its branches across the country to 171 in 2024, 194 in 2025, 215 in 2026, and 216 in 2027.
Moreover, it targets achieving revenues of EGP 297.242 million in 2024, EGP 1.241 billion in 2025, EGP 1.49 billion in 2026, and EGP 1.761 billion in 2027.