GlobalOne Healthcare completes the key acquisition
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 CEO, Holding.
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.
“This acquisition aligns with our overall strategy, since we view the business as an attractive opportunity offering substantial synergies,” remarked Ashraf Radwan, CEO, GHH.
“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,” Suresh Vaidhyanathan, Group CFO, YAS Holding. 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.