ProMedEx not renewing distribution contract with Insulet

01/02/2024 Argaam
Logo ofProfessional Medical Expertise Co. (ProMedEx)

Logo of Professional Medical Expertise Co. (ProMedEx)

Professional Medical Expertise Co. (ProMedEx) received, on Jan. 31, a notice from its supplier, Insulet Corporation, stating that the supplier is not willing to renew the non-exclusive distribution contract to sell its products.

 

The distribution contract allowing ProMedEx to sell Insulet’s products is effective until March 31, according to a statement to Tadawul.

 

In 2023, sales of Insulet's products constituted 3.34% of ProMedEx’s total sales, the statement added, noting that the non-renewal of the contract will not have any financial impact on the company.

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