UAE-based health insurance startup Sehteq is set to acquire Dawa Express for $3 million with the transaction to be completed by the first quarter of 2021.
Dawa Express, a UAE-based technology and services solution provider to health insurance companies and healthcare providers will become a wholly-owned subsidiary of Sehteq and will operate under Sehteq Portals, the technology and innovation arm of the group.
“This is an important moment for Sehteq as we continue to strengthen our technology platform to be a step closer to the Oscar Health of the middle East. Dawa’s artificial intelligence and machine learning powered solutions will accelerate the launch of our…build your own insurance offering to SMEs and enhance the service levels of our growing consumer base in the UAE,” said Jas Sing, chief technology officer at Sehteq.
Sehteq was founded in 2017 and has grown through a series of 12 mergers and acquisitions to become the third largest provider of health insurance plans for individuals, families and groups in the UAE. The company recently secured a $20 million commitment to set up a reinsurance vertical lead by its anchor investor 971 Capital.