UPS Bolsters Healthcare Logistics Capabilities Via This Acquisition

UPS Bolsters Healthcare Logistics Capabilities Via This Acquisition
  • United Parcel Service Inc UPS is planning to acquire multinational healthcare logistics provider Bomi Group. The financial terms of the transaction were not disclosed.
  • The deal will add temperature-controlled facilities in fourteen countries and nearly 3,000 highly-skilled Bomi Group team members to the UPS Healthcare network in Europe and Latin America.
  • Key Bomi Group leaders, including CEO Marco Ruini, will continue their roles after the deal closes.
  • The acquisition will add more than 350 temperature-controlled vehicles and four million square feet (391k m2) to the UPS Healthcare global footprint.
  • The transaction is expected to close by the end of the year.
  • "We are focused on building healthcare logistics capabilities and services that allow our customers to deliver the newest healthcare innovations," said UPS Healthcare President Wes Wheeler.
  • The company held $11.7 billion in cash and equivalents as of June 30, 2022.
  • Price Action: UPS shares are trading higher by 0.12% at $197.00 in premarket on the last check Monday.

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