According to Amac News: Mubadala called the deal strategic and said that the acquisition strengthens the company’s position in the healthcare logistics and pharmaceutical distribution sectors.
Established in 2015, Global Medical Supply Chain provides comprehensive supply chain services for medical products. These services include demand planning, procurement, logistics, inventory management, warehousing and storage.
Al Ittihad Pharmacy, established in 1987, is also one of the leading distributors of pharmaceutical and consumer healthcare products in the UAE. The pharmacy distributes more than 1,000 products from more than 40 leading suppliers.
Ismail Ali Abdullah, CEO of Emirates Clusters at the Emirates Investment Platform Mubadala, said the company is on track to create an integrated life sciences sector in the UAE by integrating GMSC and IDS into its portfolio.
Lu Ping, CEO of Yas Holding Group, said the deal follows another significant acquisition by the holding’s new specialty pharmaceutical business, KELIX bio, which recently acquired 100 percent of four pharmaceutical assets from Global Health Holding LLC.
Global Health Holding LLC, the healthcare arm of Yas Holding LLC, focuses on improving healthcare outcomes by investing in innovative solutions across various healthcare areas.