Morocco-based healthtech company ABA Life has signed a $40 million investment agreement with pan-African private equity firm Admaius Capital Partners. It is the healthcare arm of ABA Technology. The deal is subject to closing conditions and clearance from Morocco's Competition Council.
Use of funds
The funding will support the AI for Sovereign Health program. It will back the Mediot AI platform and clinical intelligence solutions. The company also plans to expand its healthcare technologies and services internationally.
Company background
ABA Life was founded in 2021. Mohamed Benouda founded and chairs its parent company, ABA Technology. The company reports an integrated and profitable business model.
Health services model
The company combines artificial intelligence, medical technology, telemedicine, connected healthcare infrastructure, and clinical operations. It delivers programs with public institutions and foundations. These programs aim to widen access to medical care.
ABA Life plans to industrialize and deploy its healthcare technologies at scale. It also wants to build a next-generation healthtech platform from Morocco. The company aims to become one of the country's next technology unicorns.