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GlobalOne Healthcare Holding (GHH), part of Yas Holding, announced the acquisition of Al Ittihad Drug Store (IDS), a major pharmaceutical distributor in the UAE, 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 powerful platform that complements our strengths in the pharmaceutical sector,” said Murshed Al Redaini, Group CEO of Yas Holding. “This investment also underscores our commitment to the UAE Vision 2030 and is in line with our focus on building a deeply entrenched healthcare business. We believe IDS’ business operations will have clear synergies with our other healthcare companies,” he said. added.
Founded in 1968, IDS works with leading multinational companies in the UAE to offer a diverse portfolio of products across a range of therapeutic categories, including antibacterial, asthma, hypertension, diabetes, muscle relaxants, cardiovascular, anticoagulants, antirheumatics and other classes.
Ashraf Radwan, CEO of GHH, said: “We have a proven track record of creating significant long-term value through the successful integration of acquisitions into our growing portfolio of assets. This acquisition is in line with our overall strategy as we believe The business is an attractive opportunity that offers significant synergies.”
Suresh Vaidhyanathan, Group Chief Financial Officer of Yas Holding, said: “Our ability to penetrate all consumer channels is a key component of our healthcare value chain. IDS significantly enhances this capability with a strong product portfolio that complements our strong portfolio in healthcare. A growing ecosystem in the field.”
GHH has expanded significantly since its inception and completed three earlier acquisitions in 2021. Prior to joining Geltec Healthcare FZE and WellPharma Medical Solutions (WMS), the strategic acquisition of Gulf Inject further solidifies GHH’s role as a key player in the regional healthcare sector.
GHH’s healthcare portfolio includes biopharmaceuticals, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness.
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