Mubadala Acquires Majority Stake in Al Ittihad Drug Store

Photo: Reuters 

Mubadala, the Abu Dhabi wealth fund, is buying an 80% stake in Al Ittihad Drug Store (IDS) and Global Medical Supply Chain (GMSC). These companies were previously owned by GlobalOne Healthcare Holding, but now GlobalOne will keep a 20% share.

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Al Ittihad Drug Store, founded in 1987, is one of the largest companies in the UAE that distributes pharmaceutical and consumer healthcare products. It offers over 1,000 products from more than 40 major suppliers. IDS is known for supplying every hospital in the UAE and most pharmacies and supermarkets across the country.

GMSC, founded in 2015, offers full supply chain services for medical products. Their services include planning, procurement, logistics, inventory management, warehousing, and maintenance. GMSC serves more than 200 medical facilities throughout the UAE.

Ismail Ali Abdulla, the Executive Director of UAE Clusters at Mubadala’s UAE Investments Platform, said that the growing demand for pharmaceutical products is increasing the need for specialised and efficient drug logistics. By adding GMSC and IDS to their portfolio, Mubadala plans to create a more connected and integrated life sciences sector in the UAE.

Earlier this year, in October, Mubadala also bought out four companies – Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma – which were part of GlobalOne Healthcare. It’s worth mentioning that GlobalOne Healthcare is the healthcare division of Yas Holding.