EGYPT – Egypt-based teleradiology platform Rology has completed the acquisition of Arkan United, a teleradiology provider based in Jeddah, the Kingdom of Saudi Arabia.
Although the terms of the transaction were not disclosed, the definitive acquisition agreement was signed by the Chief Executive Officer (CEO) of Rology, Amr Abodriaa, and Tarik Baeshen, the CEO of Arkan.
This strategic deal comes barely a year after Rology closed a Pre-Series A round led by Egypt Ventures, an investment firm that empowers the entrepreneurial ecosystem by investing in accelerators.
This funding round saw participation from Sequence Ventures, Saudi Arabia’s Waseel and Tawaref, and Kenya’s Viktoria Ventures.
Since its establishment in 2017, Rology has developed its cloud-based platform to provide intelligent matchmaking between patients and remote radiologists
Rology, through its on-demand teleradiology platform, connects hospitals and various healthcare providers with remote and readily available radiologists from all over the world.
The firm supplies hospitals with novel solutions across a variety of subspecialties, including breast imaging, cardiology, chest radiology, gastroenterology (GI) radiology, and musculoskeletal radiology.
Rology’s pre-Series A round of funding was anticipated to help the Egyptian startup fuel its growth across the Middle East and Africa.
Consequently, the latest buyout deal aims to combine Rology’s cutting-edge technology and network with Arkan’s deep industry expertise to provide the best-in-class medical services in Saudi Arabia.
Arkan United deploys innovative technologies to various medical centers, local hospitals, and polyclinics to enhance the precision and speed of healthcare diagnostics remote readings.
The acquisition of Arkan United will enhance the Egyptian startup’s on-demand teleradiology platform with expanded access to laboratory, scientific, and education equipment.
The joint effort aligns with Rology’s goal of bringing the latest innovations in teleradiology to healthcare providers and patients in the Kingdom of Saudi Arabia and beyond.
Commenting on the acquisition of Arkan United, CEO of Rology, Amr Abodriaa, said: “We are poised to revolutionize the field of teleradiology and improve patient care in unprecedented ways.”
Telemedicine is an exciting new venture being adopted in Egypt and the MENA region’s healthtech sector continues to soar.
Yodawy’s platform allows insurance companies and hospitals to automate approvals, save costs and improve customer experience.
The company also launched a flagship e-commerce offering that allows physicians to go paperless while enjoying an online presence.
The new capital infusion will empower Dawi to expedite the expansion of its chain of clinics across the Egyptian market by opening 30 new branches.