If any program would be able to somehow convert or save .pmd and .p65 files, it would be Adobe PageMaker from which both these files originate. In this case it looks like both files are documents made in different version of PageMaker, so perhaps a higher version should be able to work with files created in the previous one.
Convert Adobe PageMaker document to Adobe PageMaker 6.5 document.
We found one software available in the database for this conversion.
Microsoft Windows software - convert pmd to p65 on Windows
One of the first desktop publishing programs on market
Convert from pmd file format
The table with program actions contains information about what each program is capable of doing with their files. This may be a good pointer for further searches for certain file conversions and help you find the converter you are looking for if our search result is insufficient for you. However, it is far from perfect and may sometimes show results which are not really usable because of the nature of the software handles the files. So a conversion that appears as possible, just because of matched actions, may in fact not be possible.