Mubadala-backed M42 buys Bridgepoint's dialysis firm Diaverum | Reuters
Abu Dhabi's M42, a newly created healthcare joint venture between state fund Mubadala Investment Company and artificial intelligence firm G42, is buying Bridgepoint Group's European dialysis clinic chain Diaverum.
The deal, which is expected to close this year subject to regulatory approvals, values the Sweden-based firm at about $2-$2.5 billion, a person familiar with the matter told Reuters.
It will make M42 the largest healthcare company in the Middle East, it said in a statement.
Diaverum, founded in 1991, is a multinational firm that provides renal care and operates 440 clinics in 23 countries.
Gulf investors have been eyeing opportunities in Europe and elsewhere amid global volatility, supported by proceeds from oil sales after prices last year reached their highest levels since 2008.
Mubadala and G42 said on Monday they were combining their healthcare assets into M42, which will own a large portfolio including Imperial College London Diabetes Centre, Danat Al Emarat, and HealthPoint Hospital.
Mubadala does not disclose financials related to transactions, a spokesperson said on Wednesday.
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