Yas Holding LLC (YHL) has completed the acquisition of Gulf Inject LLC (GI) from Ras Al Khaimah-based Gulf Pharmaceutical Industries (Julphar), a listed UAE-based pharmaceutical company. The 100% acquisition, which includes Gulf Inject’s Jebel Ali Free Zone branch, was completed through Yas Holding’s dedicated healthcare investment vehicle, GlobalOne Healthcare Holding LLC (GHH).
GHH’s healthcare portfolio includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness.
The acquisition comes on the back of the UAE this week being announced as having the most competitive industrial sector in the Arab world, climbing five places to 30th in the world in the 2021 United Nations’ Industrial Organisation’s (UNIDO) Competitive Industrial Performance Index (CIP) report, which tracks 152 countries. The continuous improvement is in line with the UAE’s industrial strategy Operation 300bn, which aims to develop the country’s industrial sector and enhance its role in stimulating the national economy.
Commenting on the latest acquisition, Mr. Murshed Al Redaini, Group Chief Executive Officer of Yas Holding, said “Yas Holding is pleased to announce our acquisition of Gulf Inject. The addition of their production facilities is of high strategic value to our growing healthcare manufacturing and distribution ecosystem. With this acquisition, Yas Holding continues to deliver on its commitment to improve health outcomes and enhance patient quality of life.”
Founded in 1994, Gulf Inject manufactures and distributes sterile parenteral solutions and is a leading player in fluid management therapy in the UAE. From its well-established production facility in JAFZA Dubai, GI manufactures 65 products including injectables, IV infusions, antibiotics, local anaesthetics and hypertonic solutions which are used for the treatment of critical and chronically ill patients.
Suresh Vaidhyanathan, Group CFO of Yas Holding, said: “The acquisition seeks to generate several synergies that collectively position GHH as a premier healthcare investment company in the region. The transaction further reinforces the aspirations of Yas Holding to be a leading investor in local manufacturing, and thereby aligning with UAE’s long-term strategic objectives.”
Ashraf Radwan CEO of GlobalOne Healthcare explained that “in combination with GHH’s Wellpharma Medical Solutions (WMS), this acquisition will see GHH assume a market leading position in the provision of domestic IV fluid, and among the top 3 regional players in the Middle East. Across Gulf Inject and WMS the combined production capacity will exceed 28 million units of general intravenous fluids, electrolytes and injectable antibiotics, 20 million units of small volume sterile product formulations and 1.2 million units of large volume formulations including dialysis solutions.”
He further added “Gulf Inject’s solutions will also be complemented by our existing range of therapeutic injectables and eye care products.”