Mubadala Acquires 80% Stake in GMSC and Al Ittihad Drug Store
Deal News | Dec 24, 2024 | Zawya
Mubadala Investment Company, the sovereign investor of Abu Dhabi, has made a significant acquisition in the healthcare sector by purchasing an 80% stake in Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS). These stakes were bought from GlobalOne Healthcare Holding (GHH), a Yas Holding subsidiary. GHH will maintain a 20% stake in both companies. Although financial terms of the deal were not disclosed, this strategic acquisition aligns with Mubadala's broader aim to enhance its presence in healthcare logistics and pharmaceutical distribution. GMSC, founded in 2015, offers comprehensive supply chain services for medical products. Meanwhile, IDS, established in 1987, acts as a distributor for pharmaceuticals and consumer healthcare items within the UAE. This transaction is expected to bolster the creation of an integrated life sciences sector in the UAE, covering manufacturing through to logistics and distribution.
Sectors
- Healthcare
- Pharmaceutical Distribution
Geography
- United Arab Emirates – The companies involved and the transaction both occur within the UAE, relevant to the regional business and investment climate.
- Abu Dhabi – The acquirer, Mubadala Investment Company, is based in Abu Dhabi, highlighting local investment interests.
Industry
- Healthcare – The acquisition involves companies providing medical supply chain services and pharmaceutical distribution, focusing on expanding in the healthcare sector.
- Pharmaceutical Distribution – Al Ittihad Drug Store is a key player in the distribution of pharmaceutical products, making this a significant aspect of the article.
Financials
- Not Disclosed – Financial details of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mubadala Investment Company | Bidding Company | Company | Abu Dhabi's sovereign investor that acquired majority stakes in the two healthcare firms. |
| Global Medical Supply Chain (GMSC) | Target Company | Company | Provides end-to-end supply chain services for medical products. |
| Al Ittihad Drug Store (IDS) | Target Company | Company | Distributor of pharmaceutical and consumer healthcare products in the UAE. |
| GlobalOne Healthcare Holding (GHH) | Selling Company | Company | The healthcare division of Yas Holding that sold the 80% stake. |