Riyadh – Mubasher: Professional Medical Expertise Company (ProMedEx) has signed a joint venture (JV) agreement on 13 July 2026 with China-based Beijing Synapsor Artificial Intelligence Company Limited to establish a new limited liability company in Saudi Arabia.
The new entity, named BMX Sci Arabia, will focus on the construction of a manufacturing plant for single-use medical products and consumables, according to a bourse disclosure.
The JV is established with a registered capital of SAR 1 million. ProMedEx holds an 80% stake in the entity, representing a contribution of SAR 800,000, while Beijing Synapsor holds the remaining 20% stake, valued at SAR 200,000.
The total estimated cost for the project is SAR 35 million, which will be deployed in phases according to the project’s requirements and timeline.
Construction is expected to conclude in May 2027, with a two-month pilot production phase scheduled to follow.
ProMedEx confirmed it will fund its share of the project through available internal resources. The company expects the financial impact of the venture to begin appearing in its financial statements by the end of 2027.
Earlier this month, ProMedEx submitted a formal application to the Capital Market Authority (CMA) to increase its capital through a rights issue offering.
