https://arab.news/nmxvw
CAIRO: Saudi Arabia’s health care sector has gained a new entrant from Egypt aimed at addressing the challenges posed by delayed medical reports and improving patient outcomes.
Founded in 2017, Rology has secured its position in the Saudi market after sealing the acquisition of its counterpart Arkan United.
In an interview with Arab News, Amr Abodriaa, CEO and co-founder of Rology, expressed the significance of this move in establishing a leading position in the Saudi market.
“This acquisition allows Rology to accelerate our mission of bringing the latest innovations in teleradiology to health care providers and patients in the Kingdom and beyond,” he said.
“Rology has saved over 600,000 lives from Egypt to Kenya, through its one-of-a-kind solution. Rology’s acquisition of Arkan and the other local partnerships it is forging is evidence of the commitment the company has to the Kingdom,” Abodriaa added.
The CEO has set a straightforward strategy for its expansion to the Kingdom: save as many lives as possible.
“Rology primarily addresses the significant shortage of radiologists and the subsequent delay in diagnosis across our regions. We aim to alleviate the stress, anxiety, and detrimental health consequences that delayed medical reports can cause for patients,” Abodriaa said.
He explained that Rology offers an artificial intelligence powered teleradiology platform that targets the Middle East and Africa region.
“We are a solution-oriented company, committed to overcoming the current challenges in the medical imaging industry, thereby ensuring rapid, accurate, and accessible diagnostics for all,” Abodriaa said.
Arkan’s CEO Tarik Baeshen, left, with Rology CEO Amr Abodriaa. (Supplied)
The platform bridges the divide by linking health care providers with a wide network of certified sub-specialized radiologists who are accessible 24 hours a day. It provides timely radiology diagnoses and reports directly within the platform, eliminating setup costs and the need for additional systems.
“Additionally, our advanced AI algorithms assist in flagging critical cases and prioritizing them, reducing time to diagnosis. We also ensure high-quality reporting through our rigorous, multi-tier quality assurance process,” Abodriaa elaborated.
Rology aims to rapidly expand its presence in the Saudi market by leveraging its technology and utilizing strategic acquisitions to achieve its targets.
“By combining Rology’s cutting-edge technology and network with Arkan’s established expertise, we’re poised to revolutionize the field of teleradiology and improve patient care in unprecedented ways. This strategic move allows Rology to address the needs in the Saudi health care market,” the CEO explained.
Rology’s focus on digitalizing the health care sector in Saudi Arabia aligns with the government’s ongoing efforts to drive significant improvements in the wellness space.
The Kingdom aims to restructure the health sector by enhancing its capabilities as an effective, integrated, value-based ecosystem focused on the patient’s health.
It is committed to investing heavily in the health technology sector to meet these ambitious goals. The 2023 budget allocated over SR180 billion ($50.3 billion) to health care and social development, reflecting the government’s commitment to this initiative.
Much of this budget is directed toward digital health initiatives to enhance accessibility, efficiency, and transparency within the health care system.
“Saudi Arabia is a key market and one of the most important in the region for health tech. The Saudi health care sector is still the largest in the Near East North Africa region and is quickly catching up and growing at a faster pace,” Abodriaa stated.
He further said that the Kingdom is the largest medical device market in the region adding:“As part of our strategic choice to focus on Saudi Arabia as a key market, Rology is making inroads with this major acquisition.”
SPEEDREAD
• The platform bridges the divide by linking health care providers with a wide network of certified sub-specialized radiologists who are accessible 24 hours a day.
• It provides timely radiology diagnoses and reports directly within the platform, eliminating setup costs and the need for additional systems.
• The platform aims to rapidly expand its presence in the Saudi market by leveraging its technology and utilizing strategic acquisitions to achieve its targets.
With the Kingdom reducing its dependency on hospital care and moving toward preventive health services, it aims to digitalize 70 percent of patient activities by 2030.
“Saudi Arabia’s health care sector remains to be the largest in the region and Rology will play a critical role in delivering top quality reporting for the health care system in a highly efficient and cost-efficient manner,” Abodriaa said.
The company’s strategy leverages a platformalization, democratization, and decentralization model to enhance the radiology industry.
“By transforming radiology into an on-demand platform-based service, Rology democratizes access to quality diagnostic care, allowing professionals worldwide to contribute and collaborate,” Abodriaa said.
“The decentralization of radiology services further disrupts the traditional system, making advanced diagnostics accessible and affordable for everyone, thereby transforming the landscape of global health care,” he added.
Operating under a pay-per-report basis, Rology ensures a steady income stream while accommodating the variable demand of radiology services.
“This transaction-based model encourages hospital adoption by minimizing upfront costs and resistance,” Abodriaa explained.
Backed by investors and venture capitals from Saudi Arabia, the UAE, Japan, and Egypt, Rology has secured three funding rounds since its inception with plans to raise a new investment round soon.
Abodriaa did not disclose any funding amounts or revenue metrics but stated that the company has seen “significant annual growth.”
Rology currently has operations across nine countries, with its headquarters in Egypt and regional offices in Saudi Arabia and Kenya.