Dubai: Abu Dhabi's M42, a newly created joint venture by Mubadala Investment Company and G42, has acquired Bridgepoint Group's European dialysis clinic chain Diaverum.
This acquisition makes M42 the largest healthcare company in the Middle East.
"The acquisition of Diaverum significantly expands M42’s global geographic footprint, enabling it to introduce relevant healthcare services and healthtech solutions in new markets while further enhancing its renal care offering in the GCC," it said in a statement.
Founded in 1991, Diaverum is currently the world’s third-largest provider of dialysis services, operating across 23 countries, with 440 clinics and over 13,000 employees.
Diaverum also specialises in tech-enabled care which includes patient-centric apps and the potential to leverage AI to provide data-driven clinical insights for patients with chronic kidney disease. M42 will use its expertise in AI, genomics, and tech-powered solutions to advance Diaverum’s ability to deliver
life-saving renal care.
“M42’s acquisition of Diaverum represents a major milestone in our global expansion strategy,” said Hasan Jasem Al Nowais, Group CEO and Managing Director of M42. “Its pioneering digital care offering fully aligns with M42’s focus on leveraging advanced technological solutions to deliver precise, personalized patient care.”
Dimitris Moulavasilis, CEO of Diaverum, added: “Together, we’ll be able to drive international growth and continue transforming the industry through patient-centric digital innovations.”
The transaction, which is subject to customary regulatory approvals, is expected to close later in 2023.