Hikma Ventures Participates in USD 44m Financing Round for Altibbi to Expand the Platform’s Reach across MENA

Hikma Pharmaceuticals PLC (‘Hikma’ or ‘Group’), the multinational pharmaceutical company, announces that its venture capital arm, Hikma Ventures, has participated in the Series B financing round for Altibbi; the leading publisher of Arabic medical content globally – with two million pages of medical content, twenty million unique visitors per month and three million consultations per year. The company will use the proceeds from this round to grow the team, invest in talent and technology, as well as launch new products across the Middle East and North Africa (MENA) region.

“We are very impressed with what the Altibbi team has been able to achieve to date. The company has grown rapidly during the past few years because it is solving real problems by adding features and products based on the needs of users. In addition, their platform has proven to be highly scalable during the pandemic as the company handled exponential growth,” commented Lana Ghanem, Managing Director at Hikma Ventures. “On the strategic end, Hikma has already partnered with Altibbi in Jordan, Egypt and Lebanon. We are proud to support the largest mission-driven digital health platform in MENA that is helping patients in the Arab World and are looking forward to being part of the next chapter.”

Jalil Allabadi, Co-Founder and CEO of Altibbi, said, “Altibbi is proud to have a strategic investor like Hikma, the leading pharmaceutical company in MENA, with whom we share the same mission of making higher quality healthcare accessible to everyone. We are looking forward to working with their team and leveraging their global experience in digital health to further expand our platform.”

Altibbi is an end-to-end digital health platform that provides telehealth consultations; booking and data management software solutions for doctors; a specialist doctor marketplace; in addition to drug delivery services. The company has been able to achieve a market-leading position with capital efficiency and rigor against competitors. It is the first and largest telemedicine platform in the Arab World; the first to be recognized as an official telehealth provider in Egypt, Jordan and the UAE. Altibbi is revolutionizing healthcare in MENA along the three critical axes of access, quality and affordability.

Source: AETOSWire