UPS has purchased Polar Speed, a U.K.-based provider of pharmaceutical supply chain solutions, the company announced Tuesday.
UPS said the purchase of the company — which uses a temperature-controlled fleet to deliver products to hospitals, pharmacies, wholesalers and surgery centers — is part of its strategy to offer more solutions to customers in the healthcare market. The purchase also adds three facilities to UPS’ healthcare network.
"The acquisition will help UPS meet the needs of healthcare customers who want to reach the important U.K. market, offering increased value in managing more flexible and efficient healthcare supply chains," stated Cindy Miller, president of UPS Europe, in a news release. "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."
The Polar Speed fleet includes on-board temperature recorders and alarms to alert drivers of potential temperature problems as well as an online portal that lets customers access delivery status and temperature conditions of their products.
UPS said the purchase comes after it acquired Hungary-based pharmaceutical logistics company, CEMELOG; the opening of a healthcare facility in Hangzhou, China; and the expansion of six UPS healthcare facilities across North America in 2013.