Abu Dhabi-based investment group Yas Holding acquired a majority stake in Geltec Healthcare's Dubai-based business for an undisclosed sum.
Geltec Healthcare is a Mumbai-based company that makes dietary supplements in soft gel or tablet form, which also has operations in Bangalore and Singapore. Yas Holding has bought the stake in the company's Jebel Ali manufacturing plant, which has the capacity to produce 1.5 billion units per year.
“The addition of their production facilities in the UAE will bring further strength to our pharmaceutical manufacturing and distribution value chain … also complementing our existing healthcare portfolio,” Murshed Al Redaini, group chief executive of Yas Holding, said.
Yas Holding completed the deal through its Global One Healthcare Holding arm.
The group, founded in 2006, has a portfolio of healthcare companies that includes biopharma, medical supply chain, hospital and clinic management, manufacturing, healthcare technology and occupational health and wellness businesses.
“Our healthcare division continues to expand as we aim to realise our strategy of becoming a significant player in the region,” Mr Redaini said.
Yas Holding plans to expand the production capacity of Geltec plant, including adding new products such as oral solid tablets, inhalers and injectable lines.
The facility is approved by the UAE Ministry of Health and Prevention and has also received GCC and European Union Good Manufacturing Practices certifications.
Last year, Yas Holding acquired Abu Dhabi-based Wellpharma Medical Solutions, which makes intravenous solutions. It also bought a number of assets from the administrators of NMC Healthcare.
Investments into the healthcare sector have been growing amid the pandemic. Dubai-listed investment company Amanat Holdings acquired Cambridge Medical and Rehabilitation Centre for $232 million in one of the region's biggest healthcare deals this month.
ADQ, one of the region's largest holding companies, also signed an agreement to merge its healthcare entities Rafed and Union71 with Dubai-based Pure Health to create a major healthcare support services provider.
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Essentials
The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
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The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
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UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
