Mr Fawaz Ali Al Jowder, CEO- ADIH said, ‘Abu Dhabi’s 2030 Vision has been incorporated into our own. The main aim is to diversify products and services offered within the economy, hence our introduction of Wellpharma to the market. 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. This is all to ensure the best returns for our investors’
The project was granted a 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 realization of current market situation where real economy products are high in demand. Sharia’a compliant products have also proven that they are the least affected by the current financial crisis with a demand to re-route investments from abroad back to the MENA region. Success elements include the government’s Vision and economic diversification push; opportunity for geographic expansion benefiting from the latest intra-GCC regulations; high population growth rate; increasing demand to bridge the gap between supply and demand due to production and storage limitations as well as the implementation of mandatory health insurance within the GCC region automatically driving demand for healthcare by 8% annually in the next five years. The costs and associated initial operating capital requirements allow for a relatively high and quick return on investment. 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.
The launch of this fund is in line with ADIH’s strategy to diversify its investment products to include investments sectors such as, food security, energy and clean energy and healthcare