Altibbi, a Middle East-based HealthTech network, has raised $44 million in a Series B round. The company said the cash will be used to expand its online pharmacy and diagnostic collection business, as well as to go public. The round was led by Foundation Holdings and the venture capital arm of Hikma Pharmaceuticals, Hikma Ventures, as well as existing investors Global Ventures and Amman-based DASH Ventures. Other Altibbi shareholders include Endeavor Catalyst, Middle East Venture Partners and Al Rashed.
Objective is to support Altibbi to reach a superior position where its quality, exponential growth and trusted brand will enable them to be the first publicly listed digital health unicorn IPO in the GCC. While the digital transformation has dramatically changed how industries offer services to their customers, the same speed and convenience of services have been much slower in the healthcare sector. While technology plays an essential role in innovating and improving healthcare services, Ambrosio said striking the right balance between technology and a human touch is crucial.