Medad Technology, a Dubai-based privately owned and funded multi-disciplinary company, has planned to invest more than $150 million in the research and development (R&D) of new technologies for radical advances in healthcare, biotech, fintech and even sustainable mobility.
Mr. Mohammed Alshaiba Almazrouei, Chief Executive Officer of Medad Technology, stated that the company has already patented several innovations in ultrasound technology, with potentially groundbreaking applications in smoking cessation, medicine delivery and diagnostics.
Over the last four years, the company has invested $50 million in developing, manufacturing, and testing its ultrasound technology in order to acquire regulatory approval in the UAE and other global markets.
Medad Technology is now introducing its patented ultrasound nicotine delivery system (UNDS) to the UAE and will invest a further $100 million over the next three years in clinical trials, smoking cessation research and product development across sectors.
“Medad Technology is committed to delivering faster, smarter and safer solutions to improve public health and quality of life, locally and internationally. We’re delighted that after several years of extensive research and significant investment, we are now able to start introducing our technologies to both local and international markets. We intend to play an active role in the digital transformation currently sweeping the world, breaking down scientific barriers to promote better health and well-being for all.”
Medad Technology works as a group, with affiliates specializing in R&D, product development and pilot manufacturing. Together, its scientists, engineers and investors are building faster, smarter and safer solutions that will improve the health and quality of life of people around the world.