M42, an Abu Dhabi-based tech-enabled healthcare company, today announced that it has acquired Diaverum, a leading global renal care service provider, from Bridgepoint Group, making M42 the largest healthcare company in the Middle East.
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 is led by a highly experienced management team committed to improving medical outcomes for patients and driving innovation in tech-enabled care delivery. It also has a strong track record of clinical excellence, providing critical care to around 39,000 patients suffering from chronic kidney disease.
M42 is a global tech-enabled healthcare leader operating at the forefront of medical development. Established after the coming together of G42 Healthcare and Mubadala Health, M42 combines unique medical and data-centric technologies with state-of-the-art facilities to deliver the highest level of precise, patient-centric, and preventative care.
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.
Furthermore, Diaverum has particular strength in tech-enabled care. This 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 deep knowledge and expertise in AI, genomics, and tech-powered solutions to advance Diaverum’s ability to deliver precise, life-saving renal care.
Hasan Jasem Al Nowais, Group Chief Executive Officer and Managing Director of M42, commented: “M42’s acquisition of Diaverum represents a major milestone in our global expansion strategy. Diaverum is an exceptional company providing vital treatments that enable patients suffering from chronic kidney disease to live fulfilling lives. Its pioneering digital care offering fully aligns with M42’s focus on leveraging advanced technological solutions to deliver precise, personalized patient care. I look forward to working with Diaverum’s management team to address the critical challenge that chronic kidney disease represent to countries’ healthcare services around the world.”
Dimitris Moulavasilis, CEO of Diaverum, added: “We are very excited to be a part of M42’s integrated global network. M42 is a perfect fit for Diaverum’s future, and this transaction will further strengthen our position as a global leader in renal care. Together, we’ll be able to drive international growth and continue transforming the industry through patient-centric digital innovations. I would especially like to thank all our employees who make a difference in our patients’ lives every single day. They have been and will remain integral to Diaverum’s success story.”
Between 8 - 10% of the world’s adult population have some form of kidney damage, and every year millions die prematurely of complications related to chronic kidney disease. Due to the underlying growth of lifestyle diseases, including diabetes, the need for dialysis services in Diaverum’s markets saw patient growth of 8% CAGR between 2012 – 2019, with a similar growth rate expected over the next decade.
The transaction, which is subject to customary regulatory approvals, is expected to close later in 2023.