February 11, 2020 / 6:28 AM / 16 days ago

Mubadala to significantly increase investment in life sciences, medical technology

ABU DHABI (Reuters) - Abu Dhabi state investor Mubadala will significantly increase investment in life sciences and medical technology as it sees the healthcare sector as profitable, its group chief executive said on Tuesday.

“You’ll see us significantly increase our investment in that space,” Khaldoon Khalifa al-Mubarak told an investment conference in Abu Dhabi.

Mubadala, which owns Cleveland Clinic in Abu Dhabi, last year acquired Amana Healthcare, a provider of long-term care, specialized rehabilitation, and home healthcare services.

Mubadala, which manages about $240 billion in assets, is the second-biggest state investor after Abu Dhabi Investment Authority, which is estimated to have nearly $700 billion in assets.

Reporting by Saeed Azhar and Hadeel Al Sayegh, editing by Davide Barbuscia

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