Abu Dhabi health tech company M42 now biggest in region
It’s been a busy week at Abu Dhabi’s AI technology holding company, G42, especially when it comes to healthcare.
You certainly can’t accuse G42 and Abu Dhabi-based global sovereign investor Mubadala Investment Company of dragging their heels. Just two days after announcing the formation of M42 – a coming together of G42 Healthcare and Mubadala Health – the new entity had acquired Diaverum from Bridgepoint Group, making M42 the largest healthcare company in the Middle East. Not bad for a company just two days old.
Diaverum is positively ancient in comparison. Founded in 1991, it is the world’s third-largest provider of dialysis services, operating in 23 countries, with 440 clinics and 13,000 employees.
As well as the established scale of the business, the acquisition will also leverage Diaverum’s strength in tech-enabled healthcare. M42’s own knowledge and expertise in AI and genomics will complement the care being delivered by Diaverum – and save lives.
“M42’s acquisition of Diaverum represents a major milestone in our global expansion strategy,” said Hasan Jasem Al Nowais, Group Chief Executive Officer and Managing Director of M42.
“Diaverum is an exceptional company providing vital treatments that enable patients suffering from chronic kidney disease to live fulfilling lives. Its pioneering digital care offering fully aligns with M42’s focus on leveraging advanced technological solutions to deliver precise, personalised patient care.”
Al Nowais says the M42 vision is to transform lives through innovation by providing bespoke patient care.
M42 expands already impressive portfolio
This acquisition, which is subject to customary regulatory approvals, could be the first of many strategic moves by M42. Even before this deal was announced, Al Nowais had stated that M42 would be targeting international expansion to solve healthcare challenges.
M42 already owned a portfolio that includes:
- Amana Healthcare
- Biogenix Labs
- Danat Al Emarat
- HealthPoint Hospital
- Moorfields Eye Hospital Abu Dhabi
- Imperial College London Diabetes Centre
- Insights Research Organization & Solutions (IROS)
- Omics Centre of Excellence
- National Reference Laboratory (NRL)
M42 has more than 20,000 employees and more than 450 facilities in 24 countries. M42 says it is a first-of-its-kind integrated healthcare company combining medical and data-centric technologies with state-of-the-art facilities to deliver world-class care.
As well as healthcare, G42 specialises in AI research, aviation, cloud computing, data centres, energy, sustainability, smart cities, sports, transport and mobility.
Founded in 2018, G42 recently has a hugely successful IPO of Presight AI.
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