ADIH launches key medical fund.

Byline: Manama

Abu Dhabi Investment House (ADIH) has launched the Wellpharma Medical Solutions Fund.

The fund, set up by Wellpharma Holding, ADIH's investment arm in the healthcare and pharmaceutical sectors, will invest in the development and operation of a local production facility which will specialise in the manufacturing and distribution of high quality intravenous (IV) solutions for medical treatments.

'Our main aim is to diversify products and services offered within the economy, hence our introduction of Wellpharma to the market,' said ADIH chief executive officer Fawaz Ali Al Jowder.

'The fund will cater to investors who are looking to identify unique opportunities that will enhance and diversify their investment portfolio.

'We have taken into consideration local and regional gaps in supply and demand of IV solutions in addition to all the associated costs,' he said. 'This is all to ensure the best returns for our investors.'

The project was granted an in-principle approval from the Ministry of Health and received the support of the Health Authority in Abu Dhabi.

Land for the production facility within Abu Dhabi is being allocated as well as an industrial partner to help in building and operating the facility has also been identified.

The opportunity was identified after a thorough due diligence and realisation of current market situation where real economy products are high in demand.

The costs and associated initial operating capital requirements allow for a relatively high and quick return on investment and some of the raw materials are being sourced locally.

The Wellpharma Medical Solutions project will be the first among many in ADIH's Wellpharma product range. Other initiatives will include medical office buildings, and other pioneering and innovative medical products.- TradeArabia News Service

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