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Sep 15, 2020
ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diverse economy, has announced the launch of Union71, a new laboratory testing company for healthcare providers in the UAE.
The lab company aims to improve healthcare outcomes and reduce costs on both a national and regional basis by making high-quality testing and clinical support accessible. In addition, key benefits for patients includes faster, more reliable results supporting swifter patient recoveries.
Union71 will initially be responsible for delivering diagnostic services to Abu Dhabi Health Services Company (SEHA) through a comprehensive test repertoire and lab services. This will provide an opportunity to leverage economies of scale from the high volume of tests the lab company will perform for SEHA’s hospitals and clinics.
Jaap Kalkman, Chief Investment Officer at ADQ, said: "ADQ continues to play a leading role in contributing to the future of healthcare in the UAE. In line with our vision to ensure world-class systems and processes for the benefit of Abu Dhabi's communities, we are continuously evaluating opportunities to expand our healthcare investments and help drive a performance-driven culture across our portfolio companies. By separating the laboratory business from SEHA, Union71 will focus on delivering faster, lower cost and more accessible testing through a diagnostics-based approach for healthcare providers."
Dr Gareth Goodier, CEO of SEHA, said: "SEHA had already been on a journey of transformation, with clear objectives to build a sustainable healthcare network fit for the 21st century. As we continue to align our business to put patients at the heart of everything we do, adopting new organizational models enable us to become more focused on productivity and efficiency. We are confident that our new partner, Union71, will deliver the highest quality lab results quickly to help us ensure we are delivering world-class patient care."
Union71 will offer a wide spectrum of testing services, with the long-term aim of supporting clinical workflow through timely, accurate and quality data building upon ISO15189 and CAP standards. Union71 will have complex lab testing capabilities, sub-specialty consultant pathologists, experienced technologists and equipment not readily available in other labs in the region as well as the ability to ramp up quickly during emergency situations.
ADQ's healthcare portfolio also includes Abu Dhabi Health Services Co. (SEHA), the UAE's largest and most comprehensive healthcare network; National Health Insurance Company (Daman), the UAE's leading health insurer; and Rafed, a new Group Purchasing Organization (GPO) to manage and develop the procurement of healthcare-related products.
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