Morepen Medipath (MML), a subsidiary of Morepen Laboratories, has signed a joint venture agreement with UAE-based Bimedical FZE to establish a new company in India focused on the medical devices sector.   

The joint venture company (JVC) will be incorporated in India, with further details—including its name and date of incorporation—to be announced in due course.

Under the agreement, MML and Bimedical FZE will contribute equally, holding 50:50 shareholding in the JVC. Through MML, Morepen will indirectly own 30 percent of the joint venture. 

The new entity will engage in the manufacturing, trading, and sale of medical device-related products.

The investment will be made in cash, and the incorporation process is not expected to require any governmental or regulatory approvals.