Innovaccer, a provider of health cloud services, and the Abu Dhabi Investment Office (ADIO) have partnered to raise the availability, cost, and standard of healthcare in the Middle East.
To establish its regional headquarters in Abu Dhabi as part of ADIO's AED2 billion (US$545 million) Innovation Programme, Innovaccer will be given financial and non-financial incentives under the terms of the collaboration.
Due to the robust local healthcare ecosystem and the breadth of support offered, Innovaccer chose Abu Dhabi. Innovaccer's Abu Dhabi headquarters, which combines an R&D hub with a commercial role, will quicken the speed of healthcare innovation by bringing to the region its industry-leading Health Cloud, Data Activation Platform, healthcare technology solutions, and deep experience.
By working together on conferences, presentations, and research, Innovaccer will also collaborate with regional universities in Abu Dhabi.
The ADIO's acting director-general, Abdulla Abdul Aziz AlShamsi, said, "ADIO is looking for collaborative relationships with organisations that are reshaping their industries. By expanding to Abu Dhabi, Innovaccer will accelerate its ambition to change healthcare data access and usability, with the emirate's extensive healthcare infrastructure and networks serving as the perfect foundation for development and regional success."
Sandeep Gupta, co-founder and COO of Innovaccer, said: "We're excited to cooperate with ADIO to bring our technology and skills to Abu Dhabi, which is a driving force for innovation in the region.
Added he, "The difficulties that healthcare encounters are universal. Global markets have been driven to enhance the clinical and financial performance of their healthcare systems by rising prices and the pandemic. This partnership will hasten the Middle Eastern healthcare system's change in order to meet the requirements and demands of the population for easily accessible, reasonably priced, and high-quality care. Our technology plays a critical role in assisting healthcare stakeholders in dominating marketplaces that are highly regulated, consumerized, and complex. We are now introducing our tested platform to Abu Dhabi to promote innovation in healthcare data globally and hasten the region's shift from volume to value."
Wide-ranging support for Innovaccer has come from the Abu Dhabi ecosystem. The company's valuation reached $3.2 billion during the most recent Series E fundraising round, which was led by Mubadala in December 2021. Innovaccer is also cultivating local ties in Abu Dhabi in order to make the emirate its first market for trade in the Middle East and a base for regional expansion.
Abu Dhabi now boasts a top-notch healthcare sector, with cutting-edge medical care and research facilities serving both residents and a burgeoning medical tourism sector. This has been made possible by the Department of Health - Abu Dhabi (DoH), which has made significant investments over a long period of time. The emirate adopts a partnership strategy to promote the healthcare industry, a strategy that has attracted some of the top healthcare providers and biopharma businesses in the globe.
The ADIO Innovation Program assists high-growth businesses in taking advantage of the large sectoral opportunities present in Abu Dhabi. Since the program's start in 2020, AED1.3 billion has been provided to help more than 40 innovative businesses.