Oman health venture plans $10 million investment

MUSCAT, SEPT 28
Healthcare and medical technology innovator GenomaLab Medical Group plans to invest nearly $10 million in its first year of operations in the Sultanate of Oman as the healthcare and life sciences company builds a platform spanning SOHAR Port and Freezone and the mainland, its chief executive said.
The company has begun operations and is recruiting employees as it prepares to introduce services ranging from diabetes monitoring and home healthcare products to stem-cell banking, gene therapy and advanced genetic testing.
“In the first year, our investment will be almost $10 million,” Dr A Shavki, Chief Executive Officer of GenomaLab Medical LLC, told the Observer in an exclusive interview.
The company expects to employ between 30 and 50 people during the initial phase, including at least 10 Omanis, in accordance with local employment requirements, he said.
GenomaLab is using its presence in SOHAR Port and Freezone as a base to serve Oman and potentially wider regional and international markets. Its mainland operations will give it closer access to hospitals, clinics, laboratories, research institutions and patients across the country.
The investment comes as Oman seeks to attract more private-sector participation in healthcare, expand local scientific capabilities and increase the use of advanced medical technologies under Oman Vision 2040.
The company’s initial focus will include continuous glucose monitoring systems and other technologies for diabetes patients, home-care products, cell and gene therapies, stem-cell banking and next-generation sequencing, or NGS, tests.
NGS technology allows large quantities of genetic material to be analysed simultaneously and can support the diagnosis and monitoring of inherited conditions, cancers and other diseases. However, the rollout of advanced medical services will be subject to the necessary local licensing and regulatory approvals.
“We are introducing continuous glucose monitoring and diabetes technologies, home-care products, cell and gene therapy, stem-cell banking and other new health-related technologies,” Shavki said.
The company has signed agreements with two clinics to provide services for diabetes patients, although it did not disclose the names of the clinics or the commercial value of the agreements.
It is also holding discussions with public- and private-sector organisations over stem-cell biobanking, technology transfer, cell and gene therapy and the provision of NGS testing services.
“We are in discussions with both the private and public sectors, and we have signed with two clinics to provide services for diabetes patients,” Shavki said. “We are also discussing stem-cell biobanking, technology transfer, cell and gene therapy and NGS testing services with other organisations.”
GenomaLab plans to conduct a nationwide campaign in November offering free screening tests to diabetes patients. Further details about the locations, participating clinics and eligibility requirements are expected to be announced closer to the launch.
Diabetes remains a major public-health concern across the Gulf, increasing demand for early detection, continuous monitoring and technologies that allow patients to manage their condition outside hospitals.
GenomaLab said its Oman operation would combine local customer access with regional logistics and international scientific expertise. The company provides laboratory and healthcare infrastructure, diagnostic equipment, biotechnology services, cleanroom facilities and related technical support.
Under its turnkey model, the group supports projects from initial planning and laboratory design to equipment installation, commissioning, validation and the continuing supply of technologies and consumables.
The proposed investment will be implemented as the company expands recruitment, develops partnerships and introduces its services into the Omani market. GenomaLab has not disclosed whether the first-year spending will include dedicated laboratory or production facilities, or provided a timetable for the full rollout of each service.