Professional Medical Expertise Company (ProMedEx) has entered into a preliminary agreement with Zhende Medical Company, listed on the Shenzhen Stock Exchange, and MedSurg FZ to establish a joint venture in Saudi Arabia.
According to a statement released to the Saudi stock exchange, the new partnership will focus on manufacturing medical supplies for the Gulf Cooperation Council and Middle Eastern markets. Ownership of the joint venture will be shared, with Zhende holding 51 percent, ProMedEx 35 percent, and MedSurg 14 percent. The total capital for the project will be decided at a later stage.
The collaboration is set to leverage Zhende’s manufacturing capabilities and MedSurg’s expertise in operating medical supply facilities. The memorandum of understanding will remain valid for three years starting from 12 June 2025, as stated by ProMedEx.
The company anticipates that the project could positively influence its financial performance once operations commence.
