Dubai: The UAE-based investment group Yas Holding has picked up a "significant" majority stake in Geltec Healthcare located in Jebel Ali. The latter is part of a pharma and nutraceutical group with a global presence.
The deal was completed through Yas Holding’s dedicated healthcare investment group, Global One Healthcare Holding. Value of the transaction has not been revealed.
The facility is geared to produce dietary supplements and pharmaceutical products in soft gelatine capsules and gelatine enrobed tablets, with a manufacturing capacity of 1.5 billion units per annum. Yas plans to "invest in further plant expansion to include oral solid tablets, and potentially inhalers and/or injectable lines".
The facility is approved by UAE Ministry of Health as well as the GCC and EU GMP certifications. Murshed Al Redaini, Group CEO of Yas Holding, said: "The addition of their production facilities in the UAE will bring further strength to our pharmaceutical manufacturing and distribution value chain, whilst also complementing our existing healthcare portfolio.”
Yas had earlier acquired WellPharma Medical Solutions, an IV solutions manufacturing plant.