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ADIO expands US office in health sector push

By Pramod Kumar
Abu Dhabi's Helm cluster will be a key area of focus for the San Francisco office Unsplash.com/Ani Kolleshi
Abu Dhabi's Helm cluster will be a key area of focus for the San Francisco office

The state-backed Abu Dhabi Investment Office (ADIO), which aims to attract inward investment into the UAE capital, is expanding its US operations to secure new funds for the local health sector.

The expansion of the San Francisco office will support Abu Dhabi’s clinical validation and regulatory advancement in the healthcare and other priority sectors, state-run Wam news agency reported.

Last month Abu Dhabi launched a health, endurance, longevity and medicine (Helm) cluster, which it is hoped will contribute AED94 billion ($26 billion) to the emirate’s GDP in the next two decades and create 30,000 new jobs.

The cluster will be a area of focus for the San Francisco office, seeking to tap global healthcare opportunities. 

The expansion of ADIO’s office in San Francisco will allow health innovators and entrepreneurs to build and test solutions with Abu Dhabi, according to Mansoor Ibrahim Al Mansoori, chairman of the Department of Health in Abu Dhabi.

US president Donald Trump will visit Saudi Arabia, the UAE and Qatar from May 13-16.

In March, the UAE committed to a 10-year, $1.4 trillion investment framework in the US.

Under terms of the framework, investment fund ADQ, along with US partner Energy Capital Partners, announced a $25 billion US-focused initiative to invest in energy infrastructure and data centres.

XRG, the international investment arm of state oil company Adnoc, also announced its commitment to support US natural gas production and exports with an investment in the NextDecade liquefied natural gas export facility in Texas.

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