Sehteq to Acquire Dawa Express for $3 Million

Sehteq to Acquire Dawa Express for $3 Million

UAE-based Healthtech Sehteq is to acquire Dawa Express for $3 million, it has been announced today. The transaction is expected to close by Q1 of 2021. Through this acquisition, Dawa Express will become a wholly-owned subsidiary of Sehteq operating under Sehteq Portals, the technology, and innovation arm of the group. 

Sehteq is a technology-driven health insurance startup. The company was born out of a startup incubator in 2017. It grew through a series of 12 M&A to be the 3rd largest provider of value health insurance plans for individuals, families, and groups in the UAE. In August, Sehteq secured a $20 million round to set up a reinsurance vertical, led by their anchor investor 971 Capital. 

Sehteq has been a client of Dawa since March 2020. Dawa Express is a UAE-based technology and services startup providing their solutions to health insurance companies and healthcare providers in the region for the past 6 years.

Jas Sing, Sehteq’s Chief Technology Officer said, “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 first in the region build-your-own-insurance offering to SME, and enhance the service levels of our growing consumer base in the UAE.” 

Saif AlJaibeji, Sehteq’s Co-Founder and Chairman added, “I worked with Dawa’s team 6 years ago on a number of projects in the region. Joining forces with Dawa will help us accelerate Sehteq’s vision to reimagine health insurance in the Middle East. This acquisition is aligned with our investment’s mandate to grow our technology platform and support startups, and will be the first of many similar partnerships with young entrepreneurs.” 

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