UAE – G42, an artificial intelligence and cloud computing company, and Mubadala Investment Company have entered into a technology optimization partnership.
This strategic move builds on their long-standing partnership formed in October 2022 to create a new, integrated healthcare technology powerhouse.
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.
Both parties have agreed on the merger to form a single entity that will now operate under the brand name, M42, a first-of-its-kind, tech-enabled, integrated healthcare company.
The joint statement: “M42 is set to transform the way care is delivered, bridging the gap between the latest healthtech advancements and the clinical outcomes patients receive.”
The integrated healthcare company christened M42 will provide the highest level of personalised, precise, and preventative care while paving the way for progress in medical development.
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.
M42 is an Abu Dhabi-based, tech-enabled healthcare leader operating at the forefront of medical research and development, the companies claimed.
Moreover, the Chief Executive Officer (CEO) of Mubadala Health Hasan Jasem Al Nowais has been selected as the new Group Chief Executive Officer and Managing Director of M42.
“As we launch M42, we are excited to impactfully disrupt the global healthcare industry. Our vision is to transform lives through innovation by providing personalised, and precise patient care,” stated Al Nowais said.
In his role, Al Nowais will be responsible for steering M42 into opportunities for global expansion and exploring partnerships with pharmaceutical, healthcare, and healthtech leaders to bring high-quality care to communities around the world.
“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 optimise patient outcomes,” he noted.
Al Nowais underscored that M42 represents an innovative platform for G42 and Mubadala to target international expansion and partner with global peers to solve the world’s most pressing healthcare challenges.
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