UPS Expands Overseas Operations with New Acquisition in the UK
Global transportation and logistics company UPS just announced its acquisition of the pharmaceuticals logistics company Polar Speed in the United Kingdom for an undisclosed sum of money. This acquisition comes during a lengthy process of UPS acquiring interests in the field of temperature controlled health care items, including the recent purchase of CEMELOG pharmaceutical logistics company in Hungary, as well as a health care facility in Hanghou, China, and six new health care facilities around North America. The Polar Speed acquisition includes 118 actively monitored temperature controlled delivery vehicles, and services a number of health care facilities around the United Kingdom, including hospitals, pharmaceutical companies, wholesale distributors, surgery centers, and patients. UPS, based in Sandy Springs, Georgia, also acquired 190 Polar Speed employees with the deal.
UPS vice president of Global Healthcare Product Strategy Bill Hook, speaking to Logistics Management, said, “With the acquisition, which added three facilities, we now operate 45 dedicated healthcare facilities — more than 6.4 million square feet in strategic global locations. UPS is always evaluating opportunities to grow its global healthcare business via facility expansions, the introduction of new products and services into the healthcare logistics marketplace, or acquisitions such as this one.”
UPS now owns nine health care logistics interests in Europe, of which Polar Speed is the third largest. UPS has also acquired one health care facility in Madrid, Spain, two facilities in the Netherlands (Roermond and Venlo), two based in Italy (Rome and Milan), and three located in Budapest, Hungary.
Hook said these acquisitions are helping companies around the world find a one-stop solution for temperature controlled pharmaceutical deliveries, helping to lower costs and improve the efficiency of managing these processes. UPS’s services within the health care industry include temperature sensitive handling, warehousing, distribution, regulatory compliance services, security services, labeling, and accounts receivable services.
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