Abu Dhabi-based Yas Holding completes acquisition of Gulf Inject from Julphar

UAE-based investment group Yas Holding has completed the acquisition of Gulf Inject from Ras Al Khaimah-based pharmaceutical company Julphar, it has announced.

The 100 per cent acquisition, which includes Gulf Inject’s Jebel Ali Free Zone branch, was completed through Yas Holding’s healthcare investment vehicle, GlobalOne Healthcare Holding (GHH).

Founded in 1994, Gulf Inject manufactures and distributes sterile parenteral solutions. From its production facility in JAFZA Dubai, it 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.

The acquisition comes as part of efforts to boost GHH’s healthcare manufacturing and distribution ecosystem, Yas Holding said.

GHH’s healthcare portfolio includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness.

Ashraf Radwan, CEO of GHH said: “This acquisition will see GHH assume a market leading position in the provision of domestic IV fluid, and among the top three regional players in the Middle East. Across Gulf Inject and WMS (Wellpharma Medical Solutions) 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.”

The move is also in line with the UAE’s push towards boosting local manufacturing and developing the country’s industrial sector.

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.”

Yas Holding, which has a multi-business portfolio spanning nine sectors, is currently expanding operations, with increasing business interests in agriculture, food, education, aviation, technology, real estate and services.

Its companies operate across the Middle East, Africa, Europe and Asia.