The healthcare industry received unprecedented demand, pressure, as well as scrutiny during the onset of the Covid-19 pandemic. Being a health crisis, the onus was on the healthcare ecosystem worldwide to support patients, find solutions and stop the spread of the virus. With the situation now easing across many parts of the world, the sector – both globally and regionally – is looking to adopt new technological solutions to offer better quality care and cope with the new expectations facing it.
For UAE-based investment firm Yas Holding – which has diversified operations across several industries including healthcare – the growing potential that the industry offers has been a key driver that has led to expansion and acquisitions in the last year. Yas Holding’s healthcare division – GlobalOne Healthcare Holding (GHH) – has been rapidly growing its portfolio which now includes biopharma, manufacturing, medical supply chain, hospital and clinic management, healthcare technology, and occupational health and wellness.
In September, GHH completed the 100 per cent acquisition of Gulf Inject from Ras Al Khaimah-based pharmaceutical company Julphar for an undisclosed sum. Founded in 1994, Gulf Inject – which has a production facility in Dubai’s JAFZA – 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.
Earlier in the year, GHH also acquired a majority shareholding in Geltec Healthcare, whose manufacturing unit in Dubai is one of the largest soft gelatine capsule manufacturing and packaging facilities in the region, with the scope to expand into various other dosage forms.
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