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Mubadala expands healthcare portfolio with new acquisitions: Mubadala Investment Company acquired an 80% stake in Abu Dhabi based healthcare logistics firm Global Medical Supply Chain and pharma firm Al Ittihad Drug Store from Yas Holdings’ healthcare arm GlobalOne Healthcare Holding (GHH), with GHH retaining a 20% stake, Wam reports. The value of the transaction was not disclosed.
About the companies: Global Medical Supply Chain, founded in 2015, provides comprehensive supply chain services for medical products, including demand planning, procurement, logistics, inventory management, and warehousing, serving over 200 medical facilities in the UAE and collaborating with nearly 400 suppliers. Meanwhile, Al Ittihad Drug Store is a distributor of pharma and consumer healthcare products, and offers products from over 40 suppliers to hospitals, pharmacies, and supermarkets in the region.
This is not Mubadala’s first acquisition from GlobalOne Healthcare: Mubadala-owned Kelix Bio acquired four pharma assets from GlobalOne Healthcare Holding for an undisclosed amount back in October. The assets include biopharma and IV solutions manufacturing companies Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma.
The sovereign wealth fund is on a healthcare acquisition spree: Mubadala also finalized its acquisition of a minority stake in US-based healthtech Zelis earlier this month. It also acquired Belgian biopharma firm UCB ’s carved out neurology and allergy business in China in a transaction worth USD 680 mn alongside Singapore-based healthcare-focused asset manager CBC Group in August.
OTHER MUBADALA NEWS-
Mubadala-backed One Investment Management acquires German assets: Mubadala and Royal Group-backed One Investment Management will acquire stake in German firm Adler Group’s real estate portfolio in Germany alongside Amsterdam-based asset manager Orange Capital Partners, according to a statement. The firms acquired an 89.9% stake in the EUR 423 mn portfolio, with a put option to allow the sale of the remaining 10.1% stake at a later date. The acquisition is set to be completed by 31 January.
The cosmopolitan portfolio includes over 6.7k rental units across a number of cities in the west of Germany.
