Saudi Arabia-Based Healthtech Startup Labayh Acquires UAE-Based Meditation App Nafas The acquisition comes as part of Labayh's strategy to enhance the state of psychological well being in the Arab world, by creating unique mental health-focused experiences for its users.
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Saudi Arabia-based healthtech startup Labayh, which offers online therapy and wellbeing services, has acquired UAE-based meditation app Nafas. The terms of the deal have not been disclosed.
The acquisition comes as part of Labayh's strategy to enhance the state of psychological well being in the Arab world, by creating unique mental health-focused experiences for its users.
Since its launch in 2018, Labayh has offered one-on-one therapy sessions, webinars, and support groups which are all carried out by licensed therapists, for Arabic-speaking customers. Nafas, on the other hand, was launched in 2020 to offer over 300 audio clips that aim to help its users deal with mental conditions, such as anxiety, stress, and sleep disorders.
In acquiring Nafas, Labayh also hopes to diversify its business portfolio and the services it provides. Labayh will thus aim to work towards new opportunities for its brand, and also penetrate new markets by reaching out to a new segment of customers.
"The acquisition is an important achievement for Labayh, which supports its vision to become a leading global company in the field of health and psychological well-being," Bassem Al-Biladi, CEO of Labayh, said. "I confirm that the acquisition would achieve the goals of our strategy aimed at continuing to enrich the experiences of our growing customer base in the Middle East and North Africa region, in addition to the international scope, and put a group of pioneering and innovative digital services in their hands, which also contributes to the diversification of our business portfolio."
On his part, Saif Al-Esayi, CEO of Nafas, said, "I am happy with this announcement after months of hard work between the Labayh and Nafas teams. I believe that the acquisition is a major turning point in the mental health sector in the Middle East, as it will allow the Arab user to find an integrated mental health experience in one place."Related: Saudi Arabia's Biban 2023 Forum Shows The Kingdom's Commitment To Become A Leading SME Hub