Abu Dhabi's Yas Holding buys majority stake in Dubai-based supplements maker

Geltec Healthcare's Jebel Ali manufacturing plant is capable of producing 1.5 billion soft gelatine capsules and tablets a year

Located in Dubai’s Jebel Ali area, Geltec is part of an India-based pharmaceutical group Geltec Innovative Healthcare. Courtesy Yas Holding

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.