The merged entity is expected to transform the way care is delivered while bridging the gap between the latest healthtech advancements and the clinical outcomes patients receive
Abu Dhabi’s Mubadala Investment Company (Mubadala) and G42 Group have merged their healthcare assets to create M42, a tech-enabled healthcare company.
The merged entity combines G42 Healthcare’s unique medical and data-centric technologies with Mubadala Health’s world-class patient services and healthcare facilities to provide the highest level of personalised, precise and preventative care, the Abu Dhabi-based entities said in a joint statement.
M42 is expected to transform the way care is delivered while bridging the gap between the latest healthtech advancements and the clinical outcomes patients receive.
The company will look at “opportunities for global expansion and partnerships with pharmaceutical, healthcare, and healthtech leaders to bring high-quality care to communities around the world.” It will be led by group CEO and managing director, Hasan Jasem Al Nowais.
M42, a first-of-its-kind integrated healthcare company, was launched today through the coming together of G42 Healthcare and Mubadala Healthcare.
Led by Hasan Jasem Al Nowais, Group CEO and Managing Director, M42 combines G42 Healthcare’s unique medical… pic.twitter.com/HchNabZ5Mo
— Mubadala Health (@MubadalaHealth) April 17, 2023
“Our vision is to transform lives through innovation by providing personalised and precise patient care. We are confident that through our operating companies, M42 will create a future in which dedicated healthcare professionals are empowered by the latest technology to optimize patient outcomes,” said Al Nowais.
M42 will own a large portfolio, which includes Imperial College London Diabetes Centre, Danat Al Emarat, HealthPoint Hospital, Omics Center of Excellence and The National Reference Laboratory among others.
Mubadala-G42 tech-enabled approach
Meanwhile, G42 and Mubadala unveiled the plan to consolidate their respective healthcare businesses to create a new and integrated healthcare company in October.
With hundreds of thousands of patients already being served by the G42 and Mubadala, M42 will leverage the strength of the combined network, which includes state-of-the-art healthcare facilities and digital platforms, to elevate patient services across the continuum of care.
M42 will also collaborate with leading researchers and pharmaceutical and healthtech ecosystems to bring world-class care to local communities.
The Abu Dhabi state investor acquired a 60 per cent stake in United Eastern Medical Services (UEMedical) from Jadwa Investment and United Eastern Group in 2021, expanding the healthcare firm’s network to include 10,000 caregivers offering more than 100 types of medical services across the UAE and Saudi Arabia.
The company also partnered with California-based National Resilience to establish a biopharma manufacturing facility in the UAE, which provides Resilience a platform to operate and manufacture biopharmaceutical-related products out of Abu Dhabi. The range of therapeutics will be used to treat complex diseases such as cancer, infectious diseases, and inflammatory and autoimmune disorders.
Similarly, G42 Healthcare joined hands with Sheba Medical Centre on AI-driven solutions for research programmes, infrastructure building and collaborations for advancement in healthcare in multiple areas including cardiology, oncology, obstetrics, diabetes and fertility to advance healthcare in the UAE and Israel.
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