GlobalOne Healthcare Holding (GHH), Yas Holding’s healthcare investment arm, has acquired one of the leading pharmaceutical distributors in the UAE, Al Ittihad Drug Store (IDS), significantly expanding GHH’s distribution coverage in the country.
The acquisition will make GHH one of the largest medical distributors in the UAE. The investment arm has expanded considerably since its inception, with three earlier acquisitions completed during 2021. The strategic acquisition of Gulf Inject was preceded by the addition of Geltec Healthcare FZE and WellPharma Medical Solutions (WMS).
GHH’s healthcare portfolio includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness.
Murshed Al Redaini Group CEO Yas Holding
“IDS provides a robust platform that complements our strengths in the pharmaceutical sector. 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 synergize appreciably with our other healthcare companies.”
Commenting on the acquisition, Mr. 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.”
IDS, established in 1968, is one of the region’s leading pharmaceutical and consumer healthcare product distributors. Since its inception, IDS has partnered 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.
