Health Plus Holding, a subsidiary of Ethmar International Holding (EIH), has acquired a stake in Al Ain Pharmacy Group.
Ethmar did not disclose any financial details or the percentage of stake acquired.
Al Ain Pharmacy Group has been in the business for over four decades and has grown to become one of the biggest pharmacy chains in the UAE, with a wide network of stores in the country.
Ethmar healthcare expansion
This acquisition is seen as a significant milestone for the Abu Dhabi-based Ethmar International Holding, as it seeks to diversify and strengthen its investment in the healthcare sector through Health Plus Holding.
Ali Elgebely, Managing Director and Group CEO of EIH said: “This acquisition represents a significant step for EIH to strengthen its presence in the healthcare sector and aligns with the company’s vision to diversify the sources of investment, provide additional and sustainable value to investors, and achieve the maximum return on investment.
“Health Plus Holding will focus on investing in the healthcare sector, including pharmacies, hospitals and medical centres, and various healthcare facilities.”
Dr Ziad Amir Saleh, CEO of Al Ain Pharmacy Group, commented: “We are thrilled about this partnership with EIH as it will open up new paths for our growth and development. Undoubtedly, it will empower us to deliver even more comprehensive healthcare services to our customers and play a larger, more effective role across the healthcare landscape in the UAE.”
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