United Parcel Service Inc. announced on April 26 that it is augmenting its growth and investment strategy in Europe with plans to acquire a Hungarian pharmaceutical logistics company.
Its planned acquisition of CEMELOG Zrt is to further strengthen its healthcare reach in established European markets and increasingly important markets in Central and Eastern Europe, according to a UPS press release.
The acquisition of the Budapest, Hungary-based company is to be completed in the second quarter of this year. Terms of the deal were not disclosed.
“It will position us well to meet the needs of healthcare companies in a key geographic location as they strive to regionalize logistics operations as a way to increase efficiencies,” said UPS Chairman and CEO Scott Davis.
Three additional facilities of some 255,000 square feet of healthcare distribution space are to be added to UPS’s current European network once the acquisition is complete.
CEMELOG provides customers in Central and Eastern Europe tailor-made healthcare logistics solutions for the last 14 years including advanced warehouse management systems, an experienced workforce, according to the release.
It also helps healthcare clients maximize supply chain efficiencies, meet regulatory requirements and deliver products reliably and securely.
UPS also is expanding its dedicated healthcare services in Asia and North America. For more information about UPS’s healthcare logistics capabilities, click here.