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Healthcare logistics is among the areas the delivery firm has
been focusing after it expanded temperature-controlled
supply-chain logistics to support the deployment of COVID-19
vaccines globally.
UPS has been focusing on high-margin businesses to offset a
decline in volume, as the pandemic-fueled e-commerce boom
softens following easing of COVID-related measures.
Europe is the largest region outside of the United States where
UPS operates, and it accounted for nearly half of the company's
international package segment revenue last year, according to
filings.
The world's biggest package delivery firm expects to add more
than 350 temperature-controlled facilities, or warehouses used
to store temperature-sensitive pharmaceutical products across 14
countries from the deal.
The deal will allow for faster shipping times and greater
production flexibility in the delivery of next-generation
pharmaceutical and biologic treatments, UPS said in a statement.
Founded in 1985, Bomi Group helps healthcare providers with
warehousing and temperature-controlled supply chain logistics
for sensitive pharmaceutical products across Europe and South
America.
Atlanta-based UPS did not disclose financial details of the
transaction, but the Wall Street Journal, which first reported
the news on Sunday, said it was for several hundred million
dollars.(https://on.wsj.com/3BOoINA)
JPMorgan acted as the sole adviser to UPS.
Bomi's chief executive officer, Marco Ruini, will continue to
head the Italian firm after the deal, UPS said, adding that
Bomi's employees would continue in the combined organization.
(Reporting by Jahnavi Nidumolu and Kanjyik Ghosh in Bengaluru;
Additional reporting by Elvira Pollina and Kannaki Deka; Editing
by Muralikumar Anantharaman, Rashmi Aich, Neha Arora and Vinay
Dwivedi)
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