ProMedEx secures SAR 25 million credit facility

Professional Medical Expertise Company (ProMedEx) announced it has secured credit facilities worth SAR 25 million from Al Rajhi Investment Banking Company (Al Rajhi Bank) to finance existing projects and support business expansion.

According to a statement on Tadawul, the financing was secured against the following guarantees:

1. A guarantee pursuant to a fine and solidarity bond declaration from Dr. Abdullah Al-Omran and A. Muhammad Jamal Al-Madyan.
2. An acknowledgment of guarantee from Al-Omran Holding Company.
3. A promissory note amounting to 110% of the facilities, totaling 27 million riyals.