UAE’s M42 restructures operations to foster growth, innovation

Abu Dhabi healthcare firm M42 unveiled a new operating structure on Thursday to drive growth and innovation, focusing its business on strategic priorities and accelerating expansion into new local and international markets.

The artificial intelligence (AI)-powered healthcare firm, backed by Mubadala and G42, has implemented four specialised platforms as part of its internal restructuring, which will have greater autonomy and accountability.

“The new structure is designed to support M42’s strategic growth ambitions, including organic and inorganic growth, expansion into new markets, the formation of impactful partnerships to plug global healthcare gaps, and harnessing AI,” M42 said in a statement.

The Global Patient Care platform will integrate the group’s domestic and global health assets, while the AI Life Sciences platform aims to focus on drug discovery and development. The other two platforms – Integrated Health Solutions and Digital Health Solutions – will concentrate on national programmes and population health, including genomics and digital health.

M42 will maintain a strategic focus at the group level, overseeing mergers and acquisitions, corporate finance, human capital, legal, communications, global procurement, and internal audit and risk.

“Our new structure will empower our platforms and people to seize growth opportunities and expand our footprint, accelerate innovation in healthcare and revolutionise healthcare systems globally,” said Hasan Jasem Al Nowais, managing director and group CEO at M42.

“We are actively reviewing a shortlist of deals that are a good strategic fit for us and support our strategic ambitions,” Al Nowais said in a statement to Reuters, adding that priority markets including the UK and US, Europe, Middle East and Asia.

Founded in 2022 through the merger of Mubadala and G42’s health assets, M42 expanded its regional presence into Bahrain last September through a partnership with Mumtalakat Holding Company and strengthened its presence within the UAE through a strategic investment with the Ministry of Defence.

The healthcare services firm’s portfolio includes the Abu Dhabi franchise of Cleveland Clinic and global dialysis services provider Diaverum, which it acquired in 2023 from Bridgepoint Group. It is present in 26 countries.

Read: Mumtalakat, M42 to launch Amana Healthcare in Bahrain