ProMedEx, Beijing Synapsor Form JV for SAR 35M Medical Plant

Professional Medical Expertise Co. (ProMedEx) signed a joint venture agreement with Beijing Synapsor Artificial Intelligence Co. to build a medical plant in Saudi Arabia. The project is valued at SAR 35 million.

ProMedEx, a Saudi-listed healthcare services provider, will hold a majority stake in the venture. The plant will produce medical supplies and equipment for the domestic market. Beijing Synapsor brings technology and manufacturing expertise to the partnership, according to the company.

The new facility is part of ProMedEx's strategy to expand local production capacity. The plant's specific output and timeline were not disclosed in the announcement.