October 10, 2022 : Abu Dhabi sovereign wealth fund Mubadala and artificial intelligence company G42 will combine their healthcare units to form a company that will focus on utilizing future technology to revolutionize the industry across the province.
The merged entity, which aims to operate at the forefront of medical research and innovation, is planned to become a vertically integrated healthcare company by delivering pioneering clinical solutions to support solving global critical health and diagnostic issues, the companies said on Thursday.
Hasan Al Nowais, chief executive of Mubadala Health, has been selected to lead the new entity in the same role.
“The new business represents a truly integrated healthcare ecosystem where technology, research, AI and genomics are combined with world-class care to optimize clinical outcomes,” Al Nowais spoke.
“We are determined that our exceptional team of physicians and caregivers are key to pioneering medical technologies and delivering exceptional care to patients.”
The Covid-19 pandemic demonstrated the resilience of the UAE through its comprehensive health protocols and vaccine mandate, and Abu Dhabi is creating a path to become a leader in global health care.
The UAE capital dreams of capturing the world’s first population-wide genetic library, pioneering connected health, and building on previous collaborations with pharmaceutical companies Pfizer and AstraZeneca in medical research.
Hasan Al Nowais, chief executive of Mubadala Health, has been appointed to lead the new entity in the same role.
Recently, Abu Dhabi unveiled a new funding programme to support research and innovation to combat life-threatening diseases, suggested to those who carry out clinical research projects in vital health areas.
Meanwhile, need for digital healthcare services continues to grow, with venture capital organizations tapping into this by boosting their investments in start-ups, particularly those that provide diagnostics, testing and other support services.