A Healthcare startup in KSA, Labayh, has acquired Abu Dhabi-based meditation app Nafas. Labayh says that the acquisition deal comes within its strategy based on creating a unique experience for the customer, in order to contribute to enhancing the position of psychological well-being in the Arab world, at the same time, this deal maintains the diversification of the business portfolio and the services provided by it.
According to a statement, the Nafas application includes more than 300 audio clips in the field of meditation and psychological well-being in the Arab world. The app helps people to cope with anxiety and stress, control mental and physical stress, and improve sleep quality, using mechanisms approved by experts and specialists.
CEO of Nafs, Saif Al-Esayi, commented on the acquisition, “I am happy with this announcement after months of hard work between the Labaih and Nafs 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.”
Under the deal, Labayh will work to open new horizons for its brand and help it penetrate new markets and expand its customer base by reaching a new segment, benefiting from its strong presence and widespread in the Kingdom of Saudi Arabia and other countries.
Commenting on the acquisition, Bassem Al-Biladi, CEO of Al-Bayyah, said: “The acquisition is an important achievement for Al-Bayyah, which supports its vision to become a leading global company in the field of health and psychological well-being. 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.”
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Last Updated on April 1, 2023 by Safiya K
