Mubadala Acquires 80% Stake In 2 Healthcare Logistics Firms Owned By UAE-Based GHH
Mubadala Investment Company, the government investment fund of Abu Dhabi, has bought 80% of Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS) from GlobalOne Healthcare Holding (GHH), the company announced on Tuesday.
New Acquisition
GHH, the healthcare division of Yas Holding, will keep a 20% share in the two companies.
This acquisition boosts Mubadala’s position in healthcare logistics and the distribution of pharmaceuticals. It also supports the UAE’s goal to grow a strong life sciences sector. This follows Mubadala’s recent moves to expand its specialty pharmaceutical business, such as its investment in KELIX Bio in September.
In mid-October, Mubadala bought four companies—Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma—from GHH. The financial details of the deal have not been shared.
Founded in 2015, GMSC focuses on supply chain services for medical products, serving over 200 healthcare facilities in the UAE. The company handles procurement, logistics, warehousing, and inventory for nearly 400 suppliers.
IDS, started in 1987, distributes pharmaceutical and consumer healthcare products in the UAE. It manages over 1,000 products from 40 suppliers and serves hospitals, pharmacies, and supermarkets, providing treatments for conditions like diabetes, asthma, and cancer.
Ismail Ali Abdulla, Executive Director at Mubadala, said, “The growing pharmaceutical market is increasing the need for efficient drug logistics solutions.”
“By adding GMSC and IDS to our portfolio, we can help build a fully integrated life sciences sector in the UAE, covering everything from logistics and distribution to specialized manufacturing.”
Mubadala’s Strategy
This acquisition is part of Mubadala’s plan to strengthen the UAE’s healthcare and pharmaceutical sectors, supporting economic growth and drug security.
Low Ping, Group CEO of Yas Holding, said, “This deal is part of Mubadala’s strategic growth. It highlights their commitment to strengthening the UAE’s healthcare and pharmaceutical industries as part of the national goals for drug security and economic diversification.”
Big Numbers
Mubadala’s investment is part of its $302 billion portfolio, which includes assets across six continents and various industries. The sovereign wealth fund aims to generate long-term returns while supporting the economic growth of Abu Dhabi.
Published: 24th December 2024
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