Mubadala looks to boost investment in medical technology and life sciences

Mubadala Investment Company, Abu Dhabi’s strategic investment arm, is looking to “significantly” increase its investments in life sciences and medical technology sector, its Group CEO and Managing Director, Khaldoon Khalifa Al Mubarak shared at the Milken Institute Middle East and Africa Summit in Abu Dhabi this week.

Mubadala is repositioning its portfolio amid a tougher globally economic environment that prompted the International Monetary Fund to revise its global growth outlook. The company is selling mature assets and pivoting to technology to leverage the momentum brought on by digitization.

Al Mubarak said, “When you invest in life sciences and medical technology, you’re investing in a space that is profitable and solves world problems and saves humanity.”

As part of the Mubadala's domestic expansion, the company’s healthcare investment subsidiary bought Abu Dhabi-based Amana Healthcare last month. Amana was Mubadala Healthcare’s first investment in a UAE health services company. Mubadala’s healthcare assets in the UAE include Cleveland Clinic Abu Dhabi, Healthpoint, Imperial College London Diabetes Centre, National Reference Laboratory, Abu Dhabi Telemedicine and Capital Health Screening Centre.

The company, which invests on behalf of the Abu Dhabi government, manages more than Dh880 billion in assets. Its international investments include stakes in General Electric, private equity company Carlyle Group, Austria’s oil and gas entity OMV, and petrochemicals manufacturers Borealis and Nova Chemicals.