Dubai company takes Dh1bn holding in Al Noor Medical - The National Newspaper

Ithmar Capital, a private equity company based in Dubai, has taken a Dh1 billion (US$272.2 million) majority stake in Al Noor Medical Company in Abu Dhabi.

Ithmar’s capital injection is designed to fund an expansion of Al Noor through acquisitions, new development, public-private partnerships and strategic equity investments. The idea is to create a regional healthcare services company, said Faisal bin Juma Belhoul, the founder and managing partner of Ithmar, which has more than Dh2bn in assets under management.

“Al Noor is the largest healthcare operator in the country,” he said. “We’re going to build on that.”