Mubadala Investment Company announced today that it has acquired an 80 percent stake in Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS) from GlobalOne Healthcare Holding (GHH), with GHH retaining a 20 percent stake.
This strategic acquisition enhances Mubadala’s footprint in the healthcare logistics and pharmaceutical distribution sectors. In addition, it aligns with the UAE’s vision to establish a robust local life sciences infrastructure.
“The expanding pharmaceutical market drives an increasing demand for specialized and efficient drug logistics solutions. By integrating GMSC and IDS into our portfolio, we are poised to create a vertically integrated life sciences sector in the UAE and enable its potential to encompass the entire value chain from logistics and distribution to specialized manufacturing,” stated Ismail Ali Abdulla, executive director of UAE clusters at Mubadala’s UAE Investments Platform.
Mubadala expands footprint in healthcare
This transaction supports Mubadala’s strategic growth in the sector following another significant acquisition by its new specialty pharmaceutical business, KELIX bio, which recently acquired a 100 percent stake in four pharma assets from GlobalOne Healthcare Holding, the healthcare division of Yas Holding.
Founded in 2015, GMSC provides comprehensive end-to-end supply chain services for medical products, including demand planning, procurement, logistics, inventory management, warehousing and maintenance. GMSC serves over 200 medical facilities, including hospitals and clinics across the UAE. With a team of medical supply chain specialists, the company sources a broad array of products from almost 400 suppliers, ensuring a reliable supply chain for all medical needs.
Meanwhile, IDS is one of the leading distributors of pharmaceutical and consumer healthcare products in the UAE. Established in 1987, the company distributes over 1,000 products from over 40 leading suppliers. IDS services every hospital and most pharmacies and supermarkets within the UAE. It boasts a vast portfolio that spans multiple therapeutic categories including anti-infectives, asthma, diabetes and oncology.
“These concerted efforts underline Mubadala’s commitment to strengthening the UAE’s healthcare and pharmaceutical sectors as part of broader national ambitions for drug security and economic diversification,” stated Low Ping, Group CEO Yas Holding.
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Investments in healthcare technology
Earlier this month, Mubadala also announced its agreement to purchase a minority stake in Zelis, a leading provider of healthcare technology solutions in the United States. Mubadala is the lead investor, alongside a group of investors including Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners of Zelis.
“This is the largest investment that we have made in the healthcare space and our first meaningful venture into payer and provider tech, priority sub-sectors for us within healthcare IT,” stated Mina Hamoodi, head of healthcare investments at Mubadala.
Zelis is modernizing the healthcare financial experience by providing a platform that bridges the gaps and aligns interests across payers, providers, and healthcare consumers. The platform serves more than 750 payers, including the top 5 national health plans, BCBS insurers, regional health plans, TPAs and self-insured employers, in addition to millions of healthcare providers and consumers.
