Morepen Laboratories Limited has announced that its subsidiary, Morepen Medipath Limited (formerly Morepen Medtech Limited), has signed a joint venture agreement with Bimedical FZE, a UAE-based entity, to set up a new joint venture company (JVC) in India. The collaboration aims to strengthen Morepen’s presence in the medical devices segment through manufacturing, trading, and sales of innovative healthcare products.
As per the agreement, Morepen Medipath and Bimedical FZE will each hold 50% stake in the proposed JVC, with Morepen Laboratories indirectly holding 30% through its subsidiary. The joint venture will be incorporated in India, and its name and date of incorporation will be announced in due course.
The investment will be made in cash, with both partners contributing equally to the share capital of the new company. The move aligns with Morepen’s strategy to expand its footprint in the fast-growing medical devices industry, which continues to witness rising demand in India and global markets.
The proposed JVC will operate as a related party to Morepen Laboratories, though the company clarified that its promoter group has no direct interest in the venture except as members of Morepen Medipath. No government or regulatory approvals are required for the incorporation, and the transaction is being executed on an arm’s-length basis.
