United Parcel Service (UPS) has announced its plans to acquire MNX Global Logistics, a global time-critical logistics provider. The deal is expected to enhance UPS’s precision and capability in delivering time-sensitive logistics solutions, particularly in healthcare and related industries. MNX’s expertise in radio-pharmaceuticals and temperature-controlled logistics will enable UPS Healthcare and its subsidiary Marken to meet the increasing demand for these services in the healthcare sector. This acquisition will bolster UPS’s position as a leading provider of time-critical and temperature-sensitive logistics globally.
EVP and President of UPS International, Healthcare and Supply Chain Solutions, Kate Gutmann, expressed confidence in the partnership, stating that it will augment reliability and speed, especially for UPS Healthcare customers. The company aims to continuously invest in services that offer unique value to customers and create growth opportunities. The transaction is expected to be completed by the end of the year, pending regulatory review and approval.
Following the announcement, UPS’s stock rose by 0.03% in premarket trading to $152.41. This acquisition is expected to further strengthen UPS’s market position and provide additional growth opportunities for the company by expanding its global service capabilities in time-critical and temperature-sensitive logistics.