International Finance

YasHoldings acquire Al Ittihad drugstore to boost its healthcare portfolio

The acquisition will expand its coverage in the UAE

GlobalOne Healthcare Holding (GHH), a Yas Holding division, recently announced that it has acquired a major UAE pharmaceutical distributor, Al Ittihad Drug Store (IDS), which will significantly expand GHH’s distribution coverage in the UAE, according to media reports. The acquisition was completed in December 2021, thereby making GHH one of the largest medical distributors of the UAE.

Murshed Al Redaini, group chief executive officer of Yas Holding, told the media, “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 synergise appreciably with our other healthcare companies.”

IDS was established in 1968 and it partners with leading multinational corporations in the UAE to supply a diverse product portfolio across a range of therapeutic classes like antibacterial, asthma, hypertension, diabetes, muscle relaxant, cardiovascular, anticoagulant, anti-rheumatic, and others.

The company also has a proven track record of creating significant long-term value by successfully integrating acquisitions into its growing portfolio of assets. This latest acquisition aligns with the company’s overall strategy and brings attractive opportunities offering substantial synergies.

Since its inception, the company has expanded significantly and has also acquired Gulf Inject, Geltec Healthcare and WellPharma Medical Solutions (WMS) in 2021. GHH’s portfolio includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness. Yas Holding has 7,500 employees and more than 60 operating subsidiaries and has expanding business interests in agriculture, food, healthcare, education, aviation, real estate, FMCG, technology & services.

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