UPS acquires Polar Speed, bolsters healthcare network

UPS acquires Polar Speed, bolsters healthcare network

UPS (NYSE: UPS) has completed the purchase of Polar Speed, a United Kingdom-based provider of temperature-sensitive pharmaceutical supply chain systems. The acquisition further strengthens UPS’s healthcare network across Europe, providing healthcare companies access to a single source for logistics across the continent.
This purchase is part of UPS’s healthcare strategy. Polar Speed is recognized for its commitment to pharmaceutical logistics customers. It specializes in active temperature-controlled deliveries to hospitals, pharmacies, wholesalers, and surgery centers as well as end patients. Polar Speed also offers capabilities within the growing homecare direct-to-consumer delivery market.
“The acquisition will help UPS meet the needs of healthcare customers that want to reach the important UK market offering increased value in managing more flexible and efficient healthcare supply chains,” said Cindy Miller, president UPS Europe. “Our combined services will ensure healthcare companies have access to the best temperature-sensitive transportation solutions and allow us to effectively handle the rising demand for temperature-sensitive pharmaceutical and biologic products.”
Polar Speed uses a fleet of 118 actively monitored temperature-controlled vehicles for transporting both 2°–8° C refrigerated and 15°–25° C products in accordance with the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) guidelines. The fleet is outfitted with technology including onboard temperature recorders and alarms to alert drivers of potential temperature excursion. A PolarTrack, an online portal linked to a satellite navigation system, allows users to access real-time delivery status and temperature conditions of their products.
This acquisition adds three facilities with advanced warehousing management systems, full quality assurance services, and an experienced workforce to UPS’s global healthcare network, now totaling 45 healthcare facilities. UPS’s healthcare reach in Europe now includes dedicated healthcare distribution centers in the Benelux area, Central and Eastern Europe, Southern Europe, the Iberian Peninsula, and the UK. The firm alleviates logistics cost pressures for healthcare companies via regional consolidation and distribution while providing greater visibility across their healthcare product supply chain.
Merrill Lynch International (Bank of America Merrill Lynch), a subsidiary of Bank of America Corporation, acted exclusively for UPS in connection with this transaction. Terms of this acquisition not disclosed.
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