Qatar First Investment Bank (QFIB) and Ithmar Capital, a regional private equity firm, have launched a new healthcare platform which will seek to capitalize on the growth opportunities in the healthcare service and pharmaceutical/life science sectors in the GCC.

This partnership is QFIB’s first venture in the health care sector.

QFIB and Ithmar Capital jointly announced the completion of their first healthcare initiative – a strategic equity partnership with UAE-based Al Noor Medical Company.

Abdulla bin Fahad bin Ghorab Al Marri, chairman of QFIB, said: “We take great care in forming partnerships and only select highly professional, reputable and credible companies to work with to ensure mutual success. This strategic partnership will give QFIB exposure to the health care business in addition to the opportunity of establishing a foothold in this growing sector.”

Faisal Belhoul, managing partner and founder of Ithmar Capital, said: “We are proud to partner with Qatar First Investment Bank as we believe QFIB is an excellent strategic partner with an outstanding track record and high credibility. Our alliance with QFIB is an optimal fit, leveraging on the bank’s extensive shareholder network in Qatar and the Kingdom of Saudi Arabia.”