Riyadh - Sharikat Mubasher: Professional Medical Expertise Company (ProMedEx), a leading distributor of medical devices in Saudi Arabia, signed a non-binding memorandum of understanding (MoU) with Zhende Medical Company and MedSurg to establish a joint factory in the Kingdom.

The new venture will focus on manufacturing medical supplies to better serve the Saudi market, the GCC countries, and the Middle East region, ProMedEx unveiled in a bourse statement yesterday.

The capital of the joint venture will be determined later, with ProMedEx owning 35% shares, Zhende Medical Company owning 51% shares, and MedSurg owning 14% shares.   

Under this MoU, the new factory will benefit from Zhende Medical’s long expertise in manufacturing high-quality medical supplies and MedSurge’s expertise in managing medical supply factories, leveraging ProMedEx’s robust presence in local and Gulf markets and its expertise in selling and marketing medical products.

This collaboration reinforces the shared commitment of all parties to the Saudi Vision 2030, contributing to the development of local manufacturing capabilities, job creation, and technological advancement in the Kingdom.

ProMedEx specializes in legal representation for medical device manufacturers, importing, storing, selling, and maintaining medical devices and supplies.