M42, an Abu Dhabi-based healthcare company, has announced the acquisition of Diaverum, a leading global renal care service provider, from Bridgepoint Group. The acquisition of Diaverum significantly expands M42’s global geographic footprint, allowing them to serve new markets with relevant healthcare and health tech solutions, while also enhancing its offering in the GCC.
Diaverum was established in 1991, and as of today is the world’s third-largest provider of dialysis services, with 440 clinics spread across 23 countries and over 13,000 employees, who contribute to providing critical care to around 39,000 patients suffering from chronic kidney disease. Not only is its management team devoted to improving medical outcomes for patients, but the company is also renowned for its commitment to driving innovations in care delivery, powered by technology, which aims to enable progress in areas such aspatient-centric apps, AI-enabled data-driven clinical insights, and more.
Speaking about the acquisition, Hasan Jasem Al Nowais, Group Chief Executive Officer and Managing Director of M42, commented “M42’s acquisition of Diaverum is a major milestone in our global expansion strategy. Diaverum is an exceptional company that allows patients with chronic kidney disease to live fulfilling lives. M42 will use its expertise in AI, genomics, and tech-powered solutions to advance their ability to deliver life-saving renal care.”
Founded after the merging of G42 Healthcare and Mubadala Health, M42 is a global healthcare leader operating at the forefront of medical innovation, creating its state-of-the-art facilities and combining medical and data-centric technologies to provide precise and preventative care.
The CEO of Diaverum, Dimitris Moulavasilis also expressed his thoughts on the deal: “We are extremely pleased to be a part of M42’s integrated network. This strategic combination between M42 and Diaverum will help improve our position as a global leader in renal care and help foster international growth, thanks to the introduction of patient-centric digital technologies”.
Worldwide, between 8 to 10 percent of the population has some form of kidney damage, and currently an estimated millions people die prematurely of complications related to chronic kidney disease. Because of the underlying growth of lifestyle diseases including diabetes, the need for dialysis services in Diaverum’s markets has seen patient growth of 8 percent Compound Annual Growth Rate (CAGR) between 2012 and 2019. It is expected to continue with a similar growth rate in the upcoming years.
The closing of the transaction is expected to take place sometime in 2023,and is subject to certain regulatory approvals.
