UPS completes purchase of pharma logistics firm Marken
23 / 12 / 2016
UPS has completed the acquisition of Marken, a global supply chain specialist serving the pharmaceutical and life science industries, as it looks to strengthen its presence in healthcare logistics.
The deal was first announced in November, but the transaction closed on Wednesday when Marken became a wholly owned subsidiary of UPS.
“Healthcare logistics is a strategic market for UPS. Our acquisition of Marken strengthens our portfolio and demonstrates our commitment to customers and the healthcare industry,” said Teresa Finley, UPS chief marketing and business services officer.
Wes Wheeler will continue as chief executive of Marken, reporting to Finley.Terms were not disclosed.
When the deal was first announced, UPS said that clinical trials require the strict regulatory compliance, streamlined logistics services and global reach offered by Marken.
The acquisition of Marken follows multiple UPS acquisitions that have expanded the company’s healthcare logistics services portfolio.