G42, the leading Abu Dhabi-based AI technology holding group, and Mubadala Investment Company, an Abu Dhabi-based global sovereign investor, on Monday announced the launch of M42, a first-of-its-kind, tech-enabled, integrated healthcare company created through the coming together of G42 Healthcare and Mubadala Health.
M42 combines G42 Healthcare’s unique medical and data-centric technologies with Mubadala Health’s world-class patient services and state-of-the-art facilities to provide the highest level of personalized, precise, and preventative care.
Operating at the forefront of medical development, M42 is set to transform the way care is delivered, bridging the gap between the latest healthtech advancements and the clinical outcomes patients receive.
Led by Hasan Jasem Al Nowais, Group Chief Executive Officer, and Managing Director, M42 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.
Hasan Jasem Al Nowais, Group Chief Executive Officer, and Managing Director of M42, said that as they launched M42, they were excited to impactfully disrupt the global healthcare industry. “
Our vision is to transform lives through innovation by providing personalized, 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. M42 also represents a platform for us to target international expansion and partner with global peers to solve the world’s most pressing healthcare challenges,” He added.
M42 owns a wide portfolio of assets that includes Amana Healthcare, Biogenix Labs, Danat Al Emarat, HealthPoint Hospital, the HealthPlus network of specialty centres, Moorfields Eye Hospital Abu Dhabi, Imperial College London Diabetes Centre, Insights Research Organization & Solutions (IROS), Omics Centre of Excellence and The National Reference Laboratory, among others.
In October 2022, G42 Healthcare and Mubadala Health announced that they had joined forces to create a new, integrated healthcare technology powerhouse.
Rising Demand for Digital Healthcare
Meanwhile, the demand for digital healthcare services is also continuing to grow, with venture capital companies tapping into this by boosting their investments in start-ups, especially those that provide diagnostics, testing and other support services, according to a report published in the UAE-based English daily The National.
The report said that the global digital health market is projected to grow 22.6% to $407.72 billion in 2023, from $332.53 billion in 2022, and reach $1.7 trillion by 2032 at a compound annual growth rate of nearly 20%, the latest data from Precedence Research shows.
In August last year, Mubadala-backed G42 set up a $10 billion fund that will invest in emerging technology in high-growth regions around the globe as it looks to expand its portfolio of investments.
In October, Mubadala Health and G42 Healthcare signed an agreement to boost collaboration and find innovative solutions to treat chronic diseases.
“The future of healthcare lies in the incredible, fast-moving advances being made in technology,” Waleed Al Muhairi, chairman of Mubadala Health and deputy group chief executive of Mubadala, said at the time, according to the report.
“We now seek to take patient care to the next level, into a new era of precision and personalised medicine,” he said.