Mubadala buys majority stakes in two UAE healthcare firms
Mubadala Funding Firm has acquired an 80% stake in International Medical Provide Chain (GMSC) and Al Ittihad Drug Retailer (IDS).
The shares have been bought from GlobalOne Healthcare Holding (GHH), the healthcare division of Yas Holding, which can retain a 20% stake in every of the 2 firms.
Based in 2015, GMSC is a specialist in end-to-end provide chain companies for medical merchandise.
The corporate's companies embody demand planning, buying, logistics, stock administration, warehousing and upkeep.
GMSC serves greater than 200 medical amenities within the UAE and is a key participant in offering provide chain options to hospitals, clinics and healthcare suppliers.
IDS, which has a portfolio of greater than 1,000 merchandise from greater than 40 suppliers, serves as a distributor of pharmaceutical and shopper healthcare merchandise within the UAE.
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IDS's distribution community contains hospitals, pharmacies and supermarkets.
As reported by Gulf Enterprise, Mubadala UAE Investments Platform UAE Clusters Government Director Ismail Ali Abdulla stated: “By integrating GMSC and IDS into our portfolio, we’re poised to create a vertically built-in life sciences sector within the UAE.
“This acquisition will allow Mubadala to span the complete worth chain – from logistics and distribution to specialised manufacturing – strengthening the UAE's place within the world healthcare market.”
The acquisition is a part of Mubadala's technique to consolidate and develop its investments within the life sciences trade.
Yas Holding Group CEO Low Ping stated: “This transaction continues Mubadala's strategic enlargement, following the current acquisition of a 100% stake in 4 pharmaceutical property of GHH by KELIX Bio, Mubadala's specialty pharmaceutical enterprise.
“These steps are according to our imaginative and prescient to strengthen the UAE's healthcare and pharmaceutical sectors as a part of our broader dedication to financial diversification and enhancing healthcare outcomes.”
