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Abu Dhabi, UAE : 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, the 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 FZE 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.
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Media contact
Nemer Barakat
Nemer.barakat@fourcommunications.com
About Yas Holding
Yas Holding is a renowned UAE-headquartered investment company with a multi-industry business portfolio with 7,500 employees and more than 60 operating subsidiaries. The group is in growth mode with expanding business interests in agriculture, food, healthcare, education, aviation, real estate, FMCG, technology & services. Yas Holding’s diverse companies operate throughout the Middle East, Africa, Europe, and Asia.
For more information, please visit: www.yasholding.ae
About GlobalOne Healthcare Holding
GlobalOne Healthcare Holding LLC (GHH) operates as the Healthcare Division of Yas Holding LLC. The company is driven by science-led innovations that deliver healthcare solutions to significantly improve patients’ lives and the healthcare journey for all stakeholders. GHH is committed to providing value to the healthcare sector and society at large. Its companies provide cutting-edge biopharma and IV solutions manufacturing, hospital management, healthcare consulting, and medical supply chain services catering to government and private sector clients across the UAE and the GCC.
About Al Ittihad Drug Store (IDS)
IDS was established in 1968 and is one of the region’s leading pharmaceutical and consumer healthcare product distributors. During the last ten years, IDS has shown pronounced growth in every category, including growing yearly revenues, market share, number of prescriptions, product portfolio, and representing international partners. The company’s product portfolio falls under different therapeutic classes, such as antibacterial, asthma, hypertension, diabetes, cardiovascular, muscle relaxant, anticoagulant, anti-rheumatic and other classes. IDS is now a Yas Holding company, operating within GlobalOne Healthcare Holding’s portfolio.
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