UAE's Vitalls Secures $1.5 Million Investment Commitment from EST Growmore

• The UAE-based health tech startup Vitalls has secured a $1.5 million investment commitment from Singapore's EST Growmore, the investment arm of the EST Group, as part of its Seed funding round, with an option for an additional $1 million investment.
• Founded in 2023 by Mahdi Bouchnak, the company is developing a digital health passport platform powered by artificial intelligence, allowing individuals and families to securely store, manage, and share their medical records across different countries and healthcare providers.
• The investment will be used to develop the digital health passport offered by Vitalls and expand its availability, targeting individuals, families, and businesses that require access to health records across borders due to the nature of their work or international travel.
• Under the agreement, EST Growmore will join as a lead investor in the funding round, while both companies will explore collaboration opportunities in distribution, product development, and strategic partnerships, leveraging EST Group's investment portfolio in the telecommunications and healthcare sectors.

Press Release:

Vitalls, a company specializing in developing digital health passports, and EST Growmore Pte. Ltd., the investment arm of the EST Group, announced during the Future of Health Summit in Abu Dhabi that EST Growmore has committed to investing $1.5 million in Vitalls' Seed funding round, with an option for an additional $1 million investment.

The agreement was signed by Mahdi Bouchnak, founder of Vitalls, and Dr. Sindo Bhaskar, Chairman of the EST Group.

The investment reflects a shared vision between the two parties on the importance of individuals owning their health records and having access to them wherever they live, work, or travel. Under the agreement, EST Growmore joins the funding round as a lead investor.

Addressing the Fragmentation of Health Records Across Borders

Individuals move between cities, countries, and different healthcare systems, but their medical records do not transfer with the same ease. These records often remain scattered among clinics, laboratories, and healthcare institutions in different countries, in multiple languages and formats.

This fragmentation can lead to repeated medical tests, delays in receiving healthcare, and a lack of complete medical information when needed.

Vitalls' platform allows individuals to keep their complete health records in one secure place, giving them control over their data and the ability to share it, with their consent, with any healthcare provider they choose.

Strategic Collaboration Opportunities within the EST Growmore Ecosystem

In addition to funding, the partnership allows Vitalls to leverage EST Growmore's investment network, including the group's portfolio companies in the telecommunications and healthcare sectors.

The two companies will explore collaboration opportunities in service distribution, building partnerships, and product development, aiming to accelerate Vitalls' growth in the region and international markets.

Mahdi Bouchnak, founder and CEO of Vitalls, stated:

<<This agreement represents an important step for Vitalls. Alongside the funding, it confirms that the problem we are trying to solve is real and urgent. When an investor with the experience of Dr. Sindo Bhaskar commits to investing after closely studying what we have developed, it confirms a clear understanding of the importance of this need.>>

He added: <<The idea of patients owning and controlling their health records is no longer limited to a narrow field; it has become part of the direction healthcare is heading.>>

For his part, Dr. Sindo Bhaskar, Chairman of the EST Group, said:

<<We studied the problem that Vitalls is addressing, and we are convinced of the importance of what they offer. There are millions of people living, working, and traveling far from their homes, while their health records remain scattered among different clinics and countries.>>

He added: <<Vitalls empowers patients to regain control of their health history. We also see strong opportunities for integration between the company and our investment ecosystem, and we intend to leverage our network to support Vitalls' growth at a faster pace.>>

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