MedIQ and Saudi Vision
2030: Leading the transformation of healthcare
In the wake of the
post-COVID-19 pandemic era, health tech startups have emerged as vital players
to address future emergencies. Among these innovators is MedIQ, a Pakistani
healthcare tech startup that is expanding its reach into Saudi Arabia through
strategic joint ventures (JVs) with hospitals and companies. The founder of
MedIQ has expressed the startup's intention to harness Saudi Arabia's potential
to digitize healthcare services in alignment with the Saudi Vision 2030
initiative.
Approximately three
and a half years ago, Dr. Saira Siddiqui, a healthcare professional with a
Ph.D. in Health Economics from the University of Yorkshire, established MedIQ
in Islamabad, Pakistan. The core mission of this startup is to revolutionize
healthcare using a digitally integrated hybrid framework. While currently
operational in Pakistan, Saudi Arabia, the United Arab Emirates (UAE), and
Canada, Siddiqui stated in an interview,
"The solutions
we've developed in Pakistan are gaining more traction in Saudi Arabia compared
to here, as Pakistan still has a significant path ahead in digitizing
healthcare services. MedIQ is dedicated to enhancing patient-friendly,
integrated healthcare by ensuring that all stakeholders in the system deliver
services efficiently through technology."
According to Siddiqui,
a significant facet of the Saudi Vision 2030 plan involves advancing healthcare
services through technological integration. She emphasized that the Saudi
health budget for 2023, amounting to SR180 billion, highlights the
prioritization of digitalizing hospital records, remote patient monitoring, and
virtual care. To extend its footprint in the Saudi market, the Pakistani
startup MedIQ has established collaborations with major Saudi entities and
diverse holding companies, forming joint ventures for various products.
"MedIQ is
essentially developing software that connects hardware, information, patients,
and healthcare providers," Siddiqui explained.
"We're partnering
with Almana Hospital and also working on a project with Elm, the Ministry.
Additionally, we've formed a partnership with the esteemed Dr. Sulaiman Al
Habib Hospital."
Siddiqui mentioned
that her startup is currently engaged with both mid-tier and top-tier hospital
chains, in addition to government hospitals in Saudi Arabia. She also
highlighted MedIQ's active involvement in the UAE, focusing on
technology-driven wellness and lifestyle enhancement products. The company is
utilizing virtual and augmented reality to foster behavioral changes.
"From the UAE and
KSA, we intend to expand our presence to the other Gulf Cooperation Council
(GCC) countries," she added.
Siddiqui also pointed
out that a majority of MedIQ's users are women. This is primarily due to the
challenges they often face in Pakistan and the Middle East, where accessing
hospitals without male companions can be difficult. "So, we witness better
growth and a more positive response from the GCC market," she elaborated.
"As per our data,
around 74 percent of our users are women who have children or dependents such
as elderly parents."
As part of the Vision
2030 initiative, Saudi Arabia is modernizing its economy to reduce reliance on
oil. Furthermore, MedIQ has plans to contribute to the development of public
service sectors in the Kingdom, including health, education, infrastructure,
recreation, and tourism. Saudi Arabia is determined to reshape its healthcare
sector and is heavily investing in health technology to achieve its ambitious
goals. The allocation of SR180 billion ($50.3 billion) in the 2023 healthcare
budget towards digital health initiatives underscores this commitment.
Source: https://www.phoneworld.com.pk/
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