KBBO Group acquires 60% of Mobile Doctors 24-7
Established back in 2004, investment group KBBO has recently invested 60% of Mobile Doctors 24-7, a round-the-clock, state of the art Population Health Management provider, which has become the most popular in the region. With a diverse portfolio, from healthcare to real estate development, KBBO Group is fully developing its foothold within the Middle East.
The acquisition makes KBBO Group the majority shareholder in MD 24-7, following its monumental success in what has been a transformational year.
With over 145,000 registered members, Mobile Doctors 24-7 has become fully patient centred, and enables patients to be seen in their own home by fully trained doctors, offering 24-hour medical and wellness concierge services. The use of innovative technologies, such as voice and video call, enhances this flexibility, as well as the use of live chat, doctor visits and clinics. MD 24-7 has over 230 multinational corporate clients in multiple countries including employers, insurance carriers, brokerage firms, TPAs as well as telecom carriers such as Etisalat.
Mobile Doctors 24-7 offers bidirectional and integrated mobile application, state of the art 24-7 Call Centre staffed with General Practitioners, Family Medicine specialists, Paediatricians, Psychiatrists, Pharmacists, Wellness Advisors, nurses and Case Managers. The division also provides “Hospital at Home Program” which is licensed by Johns Hopkins University, saving approximately 50% of alternative cost, according to a press release.
Yazen Abu Gulal, KBBO Group CEO, said: “Mobile Doctors 24-7 is a valuable asset that is a natural fit for KBBO’s numerous healthcare assets such as Emirates Hospitals and CosmeSurge.
Raouf Khalil, Founder and CEO of Mobile Doctors 24-7 also commented, “This is a critically important step forward in scaling our true healthcare solution that aligns both consumers and payers. The combination of our one of a kind delivery system with the support of KBBO Group and its strong presence in the healthcare sector assures MD 24-7 future is in good hands.”
Walmart, the next health tech giant - a timeline
Retail giant Walmart has been building its healthcare division for a number of years, but its recent acquisition of a telehealth firm and the slow down of its clinic expansion suggest its focus has now shifted to health tech. We look at key moments in Walmart's history in healthcare.
Walmart announces plans to provide "full primary care services" by 2020. The plans include opening clinics in underserved, urban areas, where the chain has many existing stores.
A series of “Healthcare Begins Here” events launch at Walmart stores, where consumers are given information on leading healthy lives, as well as free blood pressure, blood glucose and vision screenings, and access to vaccinations.
As part of the organisation's commitment to pursue a more data-centric approach to worker safety, Walmart partners with StrongArm, manufacturers of safety wearables. Staff begin wearing FUSE, a small sensor worn between their shoulder blades that detects injury risk. Within a year, ergonomic injuries decreased by 65%.
Walmart opens its first health centre in Dallas. The 10,000 square-foot "super centre" offers primary care, X-rays and ECG, counselling, dental, optical, hearing and community health services. Prices are affordable regardless of health insurance status.
The same year a partnership with Doctor on Demand is announced, a telehealth company offering mental health services. As part of the agreement Walmart employees are able to access these services for free.
The first health and wellness clinic opens in Springdale, Arkansas, providing primary care, dental care, vision and hearing services as well as behavioural health, fitness and wellness education classes.
Walmart acquires CareZone’s medication management technology. CareZone's app reminds users to take their medication and provides refill reminders. The acquisition complements Walmart's existing pharmacy service.
The Wall Street Journal reports that Walmart is in talks with Verizon to implement 5G wireless service in select sites, to help boost digital health services.
As part of its COVID-19 response, drive-thru testing is offered at hundreds of Walmart Neighborhood Market drive-thru pharmacy sites, free of charge through Humana .
The retail giant teams up with the Department of Veterans Affairs to offer telehealth services to veterans at stores in Wisconsin, Michigan and Iowa.
Walmart Mexico signs a deal with Jack Nathan Medical Corp, a Canadian tech-focused healthcare provider. This will see 153 new medical clinics open within stores across Mexico, taking the total in the country to 203.
Walmart announces it is acquiring MeMD, a multi-speciality telehealth provider. The acquisition will enable Walmart Health to provide access to virtual care across the US. At the same time it is reported that plans to open further clinics are deliberately slowing down.
"Today people expect omnichannel access to care, and adding telehealth to our Walmart Health care strategies allows us to provide in-person and digital care across our multiple assets and solutions" Dr. Cheryl Pegus, executive vice president for Health & Wellness said of the announcement.