HBI attended the Global Health Exhibition in Riyadh, Saudi Arabia, and saw first-hand how the country is changing ahead of its 2030 transformation plan. Here are our three key takeaways from the event.
Multinational French labs group Cerba is to enter the Saudi market, via a joint venture with Nexus Gulf Healthcare (an investment firm in the region) that will be headquartered in Riyadh.
HBI speaks to Mostafa ElSayed, CEO of Automata Technologies, a London-based start-up offering robotic systems to lab operators. Automata’s machines are designed to automate lab processes that were previously difficult to automate, especially in genomics and microbiology. ElSayed tells us that Automata’s machines can increase throughput by up to 5x for certain types of tests and are already being used in the UK, the Netherlands, Belgium, and the US.
UK PE group Cinven is pushing ahead with its €10-per-share acquisition of multinational labs group Synlab by launching a public acquisition offer to all shareholders. This comes after several months of slience after Cinven made an initial non-binding offer to take the group private back in March.
HBI speaks to Jim Kean, CEO of Molecular You, a North American start-up that does tests which analyse patients' proteins and metabolites (small molecules produced during metabolism) to predict what diseases they are at risk of having. Kean tells us that through the use of hundreds of biomarkers and with the help of AI, they are able to achieve a 98% predictive accuracy for certain conditions.
Data from the Private Healthcare Information Network (PHIN) shows the self-pay bubble in the UK seems to have reached its peak. While private pay admissions are still rising across the country, self-pay is out while private medical insurance (PMI) is in.
Sonic's share price has been hovering around the A$32 mark for the past three weeks, after falling 5% in response to FY23 results released on August 16, which showed declining profits due to Covid testing winding down. This is the lowest the share price has been in the past six months.
Who are the Global Top 50 Health Care Service Companies by market cap and what does this tell us about the industry? What is striking is how very few of the top 50 are now EMEA companies - just 13, and of those only four are headquartered in Europe, rather than the Middle East or South Africa.
In contrast to Europe, South and Southeast Asia are continuing to see significant deal activity. HBI hears that SAFE Fertility Group, one of Thailand’s largest IVF providers, and Qualitas Medical Group, a primary care chain with practices across Malaysia, Singapore and Australia, are up for sale. On top of this, Agilus Diagnostics, one of India’s largest labs groups, is set to IPO.
As the world faces a mental health crisis, a panel at HBI 2023 discussed the impact telehealth and digital therapeutics have on the sector. But with growing demand and a lack of capacity, to what extent can a crisis of global proportions be tackled?
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