Saudi healthtech startup Labayh acquires Nafas meditation app
The acquisition is expected to help Labayh expand its customer base across new markets.
Saudi Arabia's healthcare startup has acquired Abu Dhabi-based meditation app Nafas.
The acquisition would help Labayh expand its customer base across new markets, the company said in an official statement.
Labayh said the acquisition deal is in line with its strategy to create a unique experience for customers and enhance the psychological well-being of the Arab world. It will also help diversify the business portfolio and services provided, said the company.
Founded in 2018 by Basim Albeladi, Labayh provides well-being and mental health services to Arabic-speaking consumers. In November 2022, the platform launched an initiative called 'Your Mental Health Matters More' for its Saudi users to provide self-assessment of the most common mental diseases such as anxiety and depression free of cost.
is an Arabic app that provides an audio library of content on different types of meditation. It is a part of the Hub71 cohort of startups in Abu Dhabi.
The telehealth market in the Middle East and Africa (MENA) was valued at $2.6 billion in 2021, according to Grand View Research. It is projected to grow at a compound annual growth rate (CAGR) of 26.3% between 2022 and 2030.
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Edited by Akanksha Sarma