UAE – M42, a first-of-its-kind, tech-enabled, integrated healthcare company, has signed a definitive agreement to acquire Bridgepoint Group’s European dialysis clinic chain Diaverum.
In its statement, M42 announced that the buyout deal to acquire Diaverum, a multinational renal care service provider, from Bridgepoint Group is expected to conclude before the end of 2023.
“The acquisition of Diaverum significantly expands M42’s global geographic footprint, enabling it to introduce relevant healthcare services and healthtech solutions in new markets,” the company said.
This acquisition will be the first for the newly independent company which was created by G42, an artificial intelligence and cloud computing company, and Mubadala Investment Company.
“M42 will use its deep knowledge and expertise in AI, genomics, and tech-powered solutions to advance Diaverum’s ability to deliver precise, life-saving renal care,” the firm stated.
G42 and Mubadala agreed to pool resources and form a new single entity with specific strategic goals operating under the brand name M42.
Under the exclusive agreement, G42 Healthcare’s unique medical and data-centric technologies will be integrated into Mubadala Health’s world-class patient services and state-of-the-art facilities.
Abu Dhabi’s M42 will provide the highest level of personalised, precise, and preventative care following the combination of healthcare assets.
On his part, Hasan Jasem Al Nowais, Group Chief Executive Officer and Managing Director of M42, underscored: “M42’s acquisition of Diaverum represents a major milestone in our global expansion strategy.”
M42 owns a wide portfolio of assets such as Amana Healthcare, Biogenix Labs, Danat Al Emarat, HealthPoint Hospital, the HealthPlus network of speciality centres, and Moorfields Eye Hospital Abu Dhabi.
Other key assets include Imperial College London Diabetes Centre, Insights Research Organisation & Solutions (IROS), Omics Centre of Excellence, and The National Reference Laboratory, just to name a few.
Bridgepoint Group’s Diaverum is set to join M42’s diversified portfolio of healthcare assets, making it the largest healthcare company in the Middle East.
The Sweden-based firm owns patient-centric apps tapping artificial intelligence to generate data-driven clinical insights for patients with chronic kidney disease (CKD).
“Diaverum is an exceptional company providing vital treatments that enable patients with CKD to live fulfilling lives. Its pioneering digital care offering fully aligns with M42’s focus on leveraging advanced technological solutions to deliver precise, personalized patient care,” noted Al Nowais
Upon completing its acquisition of Diaverum, M42 will take operational control of the renal care service provider’s 440 clinics in 23 countries.
Diaverum’s employees responsible for driving innovation in tech-enabled kidney care will also become part of M42.
Additionally, the successful acquisition will support Abu Dhabi’s M42 in enhancing its renal care offering in the Gulf Cooperation Council (GCC).
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