iPhone | iPad
Android
Huawei
Bel Group joins CCI France UAE in calling for all French companies in the country and the region to ‘shoulder their environmental responsibilities’
KT APPDOWNLOAD
Yas Holding acquires pharma distributor Al Ittihad Drug Store
GlobalOne Healthcare, Yas Holding’s healthcare investment arm, completes the key acquisition
Abu Dhabi - GHH’s healthcare portfolio includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness
GlobalOne Healthcare Holding (GHH), a Yas Holding division, has announced the acquisition of a major UAE pharmaceutical distributor, Al Ittihad Drug Store (IDS), which will significantly expand GHH’s distribution coverage in the UAE.
The acquisition was completed in December, making GHH one of the largest medical distributors in the UAE.
“IDS provides a robust platform that complements our strengths in the pharmaceutical sector,” said Murshed Al Redaini, group chief executive officer of Yas Holding.
“This investment also underscores our commitment to the UAE Vision 2030 and is in line with our focus to establish a well-entrenched healthcare business. We are confident IDS’ business operations will synergise appreciably with our other healthcare companies,” he added.
IDS was established in 1968 and partners with leading multi-national corporations in the UAE to supply a diverse product portfolio across a range of therapeutic classes, including antibacterial, asthma, hypertension, diabetes, muscle relaxant, cardiovascular, anticoagulant, anti-rheumatic, and other classes.
Ashraf Radwan, the CEO of GHH, said: “We have a proven track record of creating significant long-term value by successfully integrating acquisitions into our growing portfolio of assets. This acquisition aligns with our overall strategy, since we view the business as an attractive opportunity offering substantial synergies.”
Suresh Vaidhyanathan, group CFO of Yas Holding, said, “Our ability to penetrate all consumer channels is a critical component of our healthcare value chain. IDS significantly enhances this capability along with a strong product portfolio that complements our growing ecosystem in healthcare.”
GHH has expanded considerably since its inception, with three earlier acquisitions also completed during 2021. The strategic acquisition of Gulf Inject, which was preceded by the addition of Geltec Healthcare and WellPharma Medical Solutions (WMS), further cemented GHH’s role as a key player in the regional healthcare landscape.
GHH’s healthcare portfolio includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness.
business@khaleejtimes.com
More news from Corporate
The bank recorded a significant turnaround in the UAE with a healthy operating profit of $242 million
General and administrative expenses for the year 2021 stood at Dh234.3 million, compared to Dh240.9 million in 2020
In 2021, the company deployed a record Dh2.6 billion in capital investment
Over the past year, Multiply Group has expanded its portfolio through a range of acquisitions, and strategic investments
Board proposes final cash dividend for 2021 of Dh1.2 billion, bringing total dividends for the year to Dh3.1 billion and delivering on quarterly dividend policy
Industry leading fleet utilisation and excellent progress on cost efficiency results in full year EBITDA of over $1 billion
The group's net revenues surpasses Dh3 billion with a year-on-year increase of 49 per cent