Abu Dhabi - The Abu Dhabi Investment Office (ADIO) today announced that it is partnering with Innovaccer, the Health Cloud company, to improve the accessibility, affordability and quality of healthcare in the Middle East.
Under the partnership, Innovaccer will receive financial and non-financial incentives to set up its regional headquarters in Abu Dhabi, as part of ADIO's AED2 billion (US$545 million) Innovation Programme creating growth opportunities for businesses in the emirate.
Innovaccer picked Abu Dhabi thanks to the strength of the local healthcare ecosystem and the depth of support available. Comprising an R&D hub and a commercial function, Innovaccer's Abu Dhabi headquarters will accelerate the pace of healthcare innovation by bringing its industry-leading Health Cloud, Data Activation Platform, healthcare technology solutions, and deep expertise to local communities.
Innovaccer will also partner with local universities in Abu Dhabi by collaborating on conferences, presentations and research.
Innovaccer's regional Abu Dhabi headquarters will boost the emirate's talent ecosystem and economic growth with the addition of more than 80 high-skilled employees to support development, marketing, sales, implementations, customer support, and other operations throughout the region.
Abdulla Abdul Aziz AlShamsi, Acting Director-General of ADIO, said, "ADIO seeks partnerships with transformative companies that are driving positive change within their sectors. Innovaccer's mission to transform healthcare data access and usability will be accelerated by its expansion to Abu Dhabi, with the emirate's innovation ecosystem and established healthcare infrastructure and networks providing the ideal base to achieve growth and regional success."
Innovaccer is dedicated to accelerating innovation in healthcare by connecting and curating the world's healthcare information to make it accessible and useful. The Innovaccer Health Cloud unifies patient data across systems and care setting and empowers healthcare organisations to develop scalable, modern applications that improve clinical, financial, and operational outcomes.
"We're thrilled to collaborate with ADIO to bring our technology and talent to Abu Dhabi, which is a driving force for innovation in the region," said Sandeep Gupta, co-founder and COO at Innovaccer.
He added, "The challenges healthcare faces are global. Spiralling costs and the pandemic have motivated markets worldwide to improve the clinical and financial performance of their healthcare systems. This collaboration will accelerate healthcare transformation in the Middle East to meet the public's needs and expectations for accessible, affordable, high-quality care. Our technology is instrumental in helping healthcare stakeholders succeed in highly complex, regulated and increasingly consumerised markets. Now we're bringing our proven platform to Abu Dhabi to drive global healthcare data innovation, and help accelerate the region's transition from volume to value."
Innovaccer has received wide-ranging support from the Abu Dhabi ecosystem. The company's most recent Series E funding round led by Mubadala in December 2021 brought its valuation to $3.2 billion. Additionally, Innovaccer is building local relations in Abu Dhabi to establish the emirate as its first commercial market in the Middle East and a platform for regional growth.
Ibrahim Ajami, Head of Ventures & Growth at Mubadala, said, "Since we first invested in Innovaccer in 2019, we have seen widespread adoption of their solutions by healthcare institutions across the United States, and we are delighted to see them now expanding their presence in the Middle East by establishing a regional headquarters in Abu Dhabi. Abu Dhabi boasts a thriving ecosystem for research and development, making it the perfect base from which Innovaccer can accelerate innovation in healthcare and contribute to the advancement of Abu Dhabi's healthcare system."
Driven by the Department of Health – Abu Dhabi (DoH), significant investment over many years has established Abu Dhabi's world-class healthcare industry, with advanced medical care and research facilities serving both residents and a growing medical tourism sector. The emirate takes a partnership approach to develop the healthcare sector, an approach that has brought in some of the world's leading healthcare providers and biopharma companies.
Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Centre at DoH, said, "More than ever today, we realise the importance of data as it allows organisations to further develop value-based care, manage populations' health and generate real world evidence. Under the directives of the UAE's wise leadership and through valuable collaborations across various sectors, Abu Dhabi continues to further engrave its position as a hub for smart data solutions that provide indisputable evidence and lead decision-making processes."
ADIO's Innovation Programme supports high-growth companies and helps them tap into the sizeable sectoral opportunities available in Abu Dhabi. The programme has allocated AED1.3 billion to support more than 40 innovative companies since its 2020 launch.