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Saudi Arabia based Professional Medical Expertise Company (Promedex) has formed a JV with med-tech firm Beijing Synapsor Artificial Intelligence to manufacture single-use medical products and consumables in the kingdom.
Promedex will hold an 80% stake, while Beijing Synapsor will own the remaining 20% stake in the new entity, PMX Syai Arabia.
The project is expected to be completed by May 2027. Construction is scheduled to begin in August at an estimated cost of 35 million Saudi Arabian riyals.
(Writing by Bindu Rai, editing by Seban Scaria)
