M42 acquires Bridgepoint’s dialysis firm Diaverum

M42, Abu Dhabi’s newly created tech-enabled healthcare joint venture, has acquired Bridgepoint Group’s European renal care service provider Diaverum. The deal makes M42 one of the largest healthcare providers in the Middle East.

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.

M42 said it will buy Sweden-based Diaverum without disclosing the value of the transaction. The transaction, which is subject to customary regulatory approvals, is expected to close later in 2023.

“M42’s acquisition of Diaverum represents a major milestone in our global expansion strategy,” Hasan Jasem Al Nowais, group CEO and managing director of M42 said adding that Diaverum’s pioneering digital care offering fully aligns with the company’s focus on leveraging advanced technological solutions to deliver precise and personalised patient care.

Founded in 1991, Diaverum has a strong track record of clinical excellence, providing critical care to around 39,000 patients suffering from chronic kidney disease. It is currently the world’s third-largest provider of dialysis services, operating across 23 countries, with 440 clinics and over 13,000 employees.

Today, M42 announced that it has acquired Diaverum, the world’s third-largest provider of dialysis services, operating across 23 countries, with 440 clinics and over 13,000 employees.

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— Mubadala (@Mubadala) April 19, 2023

Between 8 and 10 per cent 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 per cent CAGR between 2012 – 2019, with a similar growth rate expected over the next decade.

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M42 grows global footprint

Meanwhile, Mubadala and G42 recently merged their healthcare assets to create M42, a healthcare joint venture, which will own a large portfolio which includes Imperial College London Diabetes Centre, Danat Al Emarat and HealthPoint Hospital.

M42 seeks to leverage its deep knowledge and expertise in AI, genomics, and tech-powered solutions to advance Diaverum’s ability to deliver precise, life-saving renal care. The company is expected to transform the way care is delivered while bridging the gap between the latest healthtech advancements and the clinical outcomes patients receive.

With hundreds of thousands of patients already being served by the G42 and Mubadala, M42 will leverage the strength of the combined network, which includes state-of-the-art healthcare facilities and digital platforms, to elevate patient services across the continuum of care.

M42 will also collaborate with leading researchers and pharmaceutical and healthtech ecosystems to bring world-class care to local communities.

Dimitris Moulavasilis, CEO of Diaverum said M42 is a perfect fit for the company’s future and the transaction is expected to further cement the multinational firm’s position as a global leader in renal care.

GCC investors have been eyeing opportunities in different industries in Europe, buoyed by proceeds from oil revenues after prices last year reached their highest levels since 2008.

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