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Abu Dhabi sovereign wealth fund Mubadala and artificial intelligence G42 will combine its healthcare divisions to form a company focused on harnessing future technologies to revolutionize industries across the region.
The combined entity aims to be at the forefront of medical research and innovation and aims to be a vertically integrated entity health care The companies said Thursday that they are conducting business by providing groundbreaking clinical solutions to help solve critical global health and diagnostic challenges.
Hasan Al Nowais, CEO of Mubadala Health, has been appointed to lead the new entity in the same role.
“The new company represents a truly integrated healthcare ecosystem where research, technology, artificial intelligence and genomics combine with world-class care to optimize clinical outcomes,” said Mr. Al Nowais.
“We are committed to ensuring that our exceptional team of physicians and caregivers have access to groundbreaking medical technologies and provide patients with unparalleled care.”
The Covid-19 pandemic has proven the UAE’s resilience through its comprehensive health protocols and vaccine mandate, and Abu Dhabi is draw path Become a global healthcare leader.
The UAE capital is ambitious to build the world’s first whole-population gene bank, pioneering connected health, and builds on previous collaborations on medical research with pharmaceutical companies Pfizer and AstraZeneca.
Last week, Abu Dhabi unveiled a new funding scheme to support Research and Innovation Combat life-threatening diseases, available to those conducting clinical research projects in critical health areas.
At the same time, demand digital health Services continue to grow, and VCs are capitalizing on this by increasing their investment in startups, especially those offering diagnostics, testing and other support services.
According to Grand View Research, the global digital health market is worth $175.6 billion in 2021 and is expected to grow at a compound annual growth rate of about 28% through 2030.
Mubadala Health and G42 Healthcare already serve hundreds of thousands of patients each year, and the new entity will take advantage of the combined network’s reach, the companies said.
It said this would include state-of-the-art healthcare centres and digital platforms that would improve patient service throughout the care process.
“Our goal is to leverage the respective strengths of G42 Healthcare and Mubadala Health to unlock healthcare super-intelligence and facilitate global healthcare expansion,” said Peng Xiao, CEO of G42 Group.
“Our capabilities and experience in leveraging data and artificial intelligence will allow us to continue to transform the traditional healthcare ecosystem, delivering best-in-class patient care in world-class facilities, driven by the latest breakthrough research.”
These companies are already actively involved in several initiatives in the healthcare space.
In August, with Mubadala’s backing, G42 set up a $10 billion fund to invest in emerging technologies high growth area Globally, it is looking to expand its portfolio.
Last October, Mubadala Health and G42 Healthcare signed an agreement to foster collaboration and find innovative solutions Treat chronic diseases.
Waleed Al Muhairi, Chairman of Mubadala Health and Deputy Chief Executive Officer of Mubadala, said: “The future of healthcare lies in the incredibly rapid development of technology.”
“Mubadala provides UAE residents with the highest standard of patient care in multiple areas of specialization. We now seek to take patient care to the next level, entering a new era of precision and personalized medicine.”
The new entity will consider opportunities for international expansion and new partnerships, and focus on collaborating with leading researchers and the pharma and healthtech ecosystem, the companies said.
Updated: October 6, 2022, 12:38 pm
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