G42 in Abu Dhabi, Mubadala to create M42 with global plans

DUBAI: G42, an Abu Dhabi-based artificial intelligence technology entity that has just completed two highly successful initial public offerings, will launch a new company – M42 – in an alliance with Mubadala Investment Co. M42 will become a technology-enabled healthcare company and will merge G42 Healthcare and Mubadala Health.

The new venture combines G42 Healthcare’s medical and data-centric technology with Mubadala Health’s patient services and specialty facilities to deliver personalized and preventive care. It will be led by Hasan Jasem Al Nowais who is Group CEO and Managing Director.

This is the culmination of the October 2022 announcement that G42 Healthcare and Mubadala Health will join forces to create an integrated health technology powerhouse.

M42 will look at “opportunities for global expansion and collaboration with pharmaceutical, healthcare and health technology leaders to deliver high-quality healthcare to communities around the world”.

“We are excited to have an impact on the global healthcare industry,” said Al Nowais. “Our vision is to transform lives through innovation by delivering personalized and precise patient care.

“We believe that, through our operating companies, M42 will create a future in which dedicated healthcare professionals are empowered with the latest technology to optimize patient outcomes. M42 also represents a platform that allows us to Ability to target international expansion and collaborate with global peers to solve the world’s most pressing healthcare challenges.”

More recently, Mubadala Health has been leading a major transformation of the healthcare landscape in Abu Dhabi and the UAE, in part by consolidating its key assets. Another major player in the space is Pure Health, of which investment firm ADQ is its largest shareholder.

In addition to specialty health care, these entities also invest resources in other related areas, whether in pharmaceuticals or medical technology investments.

All of these initiatives will now feed into M42 – including Amana Healthcare, Biogenix Labs, Danat Al Emarat, HealthPoint Hospital, HealthPlus Specialty Center Network, Moorfields Eye Hospital Abu Dhabi, Imperial College London Diabetes Centre, Insights Research Organization & Solutions (IROS ), Omics Center of Excellence and National Reference Laboratory, etc.