Moroccan health technology company ABA Life has secured 400 million dirhams from private equity firm Admaius Capital Partners to expand internationally and develop artificial intelligence tools for healthcare. The investment will support the company’s “AI for Sovereign Health” programme, which aims to develop clinical intelligence tools through its Mediot AI platform. It will also fund the expansion of its connected medical device production and help the company enter foreign markets.
ABA Life, the health technology division of Casablanca-based ABA Technology, confirmed the investment on Tuesday. The deal remains subject to customary closing conditions and approval from Morocco’s Competition Council.
Mohamed Benouda, founder and president of ABA Technology, said the company had demonstrated that it was possible to build a profitable technology, industrial and operational healthcare business in Morocco within five years.
“This fundraising marks the beginning of a new phase: one of acceleration and internationalisation,” he said.
“Our ambition is to build from Morocco a technological and medical champion capable of contributing sustainably to the transformation of healthcare systems.”
Benouda added that the company’s AI for Sovereign Health programme aimed to develop a new generation of clinical intelligence and sovereign health solutions for international markets.
Admaius Capital Partners, a pan-African private equity firm based in Kigali with regional offices in Casablanca, said it was attracted by ABA Life’s combination of medical devices, connected infrastructure, healthcare operations and proprietary technologies developed in Morocco.
“From the start of our discussions, we were impressed by what ABA Life has built,” said Selim Ettriqui, Admaius’s head of Morocco and West Africa.
“We are pleased to support Mohamed Benouda and his teams in this new phase of growth and international expansion,” he added.
Marlon Chigwende, managing partner at Admaius Capital Partners, said ABA Life had an ambitious leadership team, an established business model, strong technological foundations and significant potential to expand.
“We are convinced of its ability to become an international reference HealthTech player and are delighted to support this ambition,” he said.
