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Specialized Medical Services Company (Bromedix) signed a joint venture agreement on July 13, 2026 with Beijing Synapsor Artificial Intelligence Co., Ltd. of China, to establish a limited liability company in Saudi Arabia named "BMX Sy Arabia Company", with the aim of setting up a factory to produce single-use medical products and consumables.

The company explained in a statement on Saudi Tadawul today, Tuesday, that the joint venture was established and registered in the commercial register on July 13, 2026, with a registered capital of SAR 1 million. Bromedix owns 80% of it, equivalent to SAR 800,000, while the Chinese partner owns 20%, equivalent to SAR 200,000.

It added that the total estimated cost of the project is SAR 35 million, which will be injected in stages according to the approved work plan and timeline and based on the actual needs of the project.

It indicated that construction of the project is expected to begin after the approval of plans and obtaining regulatory approvals, with completion of construction works by May 2027, followed by trial production for approximately two months, then commercial production during the month of Rabi' al-Awwal 1449 AH.

Bromedix will finance its share in the project from its available funding sources according to the approved plan, without the signing of the agreement imposing any immediate commitment to finance the entire estimated cost of the project, and any developments will be disclosed as they become available.

The company confirmed that there is no immediate material financial impact on its financial statements as a result of signing the agreement, expecting the financial impact of the project to begin by the end of fiscal year 2027, after obtaining the necessary licenses and starting project implementation and operation.

Bromedix said that the project is subject to obtaining the necessary regulatory approvals from the competent authorities in the Kingdom of Saudi Arabia, and the company will announce any material developments in due course according to relevant regulations and instructions.

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