Egypt-based healthtech Rology has successfully completed the acquisition of Arkan United, a teleradiology provider based in Jeddah, Saudi Arabia, specializing in telemedicine services for an undisclosed amount.
The agreement was formally signed by Rology’s CEO, Amr Abodriaa, and Tarik Baeshen, the CEO of Arkan. “We are delighted to announce our acquisition of Arkan for medical services in Saudi Arabia. This strategic move allows us to accelerate our mission of introducing the latest innovations in teleradiology to healthcare providers and patients within the kingdom and beyond,” stated Abodriaa.
Founded in 2017 by Amr Abodriaa, Mahmoud Eldefrawy, Moaaz Hossam and Bassam Khallaf, Rology offers an on-demand teleradiology platform that uses AI and cloud computing to deliver reports within 12 hours or in 60 minutes for emergency cases.
In 2022, Rology closed a pre-Series A round from Egypt Ventures, Sequence Ventures, Waseel, Tawaref, and Viktoria Ventures, alongside previous investors including HIM Angels, AAIC, DAI, and Cubit Ventures
By merging Rology’s cutting-edge technology and extensive network with Arkan’s established expertise, we are poised to revolutionize the field of teleradiology and significantly enhance patient care in unprecedented ways. Abodriaa further added, “We are excited to continue building upon Arkan’s success with Tarik Baeshen and remain at the forefront of this exciting future, leading the way in teleradiology.”
Arkan was founded in 2020 by Tarik Baeshen, and it offers a teleradiology platform that caters to medical centre, local hospitals and polyclinics
Tarik Baeshen expressed his confidence in Rology, stating, “I am eager to witness how Rology will take Arkan forward in the Saudi market. It is evident to me that Rology possesses the right team and the disruptive solutions that the Saudi healthcare system truly needs. I am proud of Arkan’s contributions to the healthcare landscape in the kingdom, and I am excited to see Rology take it even further.”
As part of Rology’s strategic decision to prioritize the Saudi market, this significant acquisition marks the company’s entry into the Kingdom’s healthcare sector, which remains the largest in the region. Rology is expected to play a crucial role in delivering top-quality reporting for the healthcare system in a highly efficient and cost-effective manner. Being the leading teleradiology provider in the MEA region, expanding into Saudi Arabia is a logical progression for Rology.
With a track record of saving over 500,000 lives across Egypt to Kenya through its unique solution, Rology’s acquisition of Arkan, along with other local partnerships, serves as a testament to the company’s unwavering commitment to the Kingdom. Saeed ElAnsari, CEO of Tawaref and an investor in Rology, emphasized the rising demand for healthcare in Saudi Arabia, driven by population growth, aging, and an increasing incidence of noncommunicable diseases. He highlighted the challenges faced in delivering care to all segments due to the country’s large size and dispersed population.
Rology addresses these challenges through its rigorous radiologist recruitment process, advanced matchmaking algorithm that connects each case with the appropriate expert, and comprehensive recheck process, ensuring fast and high-quality reporting. By leveraging these capabilities, Rology aims to bridge the gaps in radiology services in the Kingdom and contribute to the overall improvement of healthcare in Saudi Arabia.
