ProMedEx Declares Decision Against Renewing Non-Exclusive Sales Distribution Agreement with Supplier Insulet Corporation

Professional Medical Expertise Company, also trading as (“ProMedEx”) announceD on Thursday its receipt of a notice letter on the 31st of January, 2024 from its supplier (“Insulet Corporation”) stating that the supplier does not wish to renew the non-exclusive distribution contract to sell its products.

The Company added in a statement on Tadawul that it would be the last effective day for the contract to sell the supplier’s products by Professional Medical Expertise Company on the date of 03/31/2024 AD.

Noting that the sales of the supplier’s products (“Insulet Corporation”) represented 3.34% of the company’s (“ProMedEx”) total sales during the year 2023 AD. Accordingly, non-renew of the non-exclusive distributor agreement of the principal, Insulet Company, will not result in any financial impact on the company.