UPS Bolsters Healthcare Logistics Capabilities Via This Acquisition

United Parcel Service Inc UPS is planning to acquire multinational healthcare logistics provider Bomi Group. The financial terms of the transaction were not disclosed.
The deal will add temperature-controlled facilities in fourteen countries and nearly 3,000 highly-skilled Bomi Group team members to the UPS Healthcare network in Europe and Latin America.
Key Bomi Group leaders, including CEO Marco Ruini, will continue their roles after the deal closes.
The acquisition will add more than 350 temperature-controlled vehicles and four million square feet (391k m2) to the UPS Healthcare global footprint.
The transaction is expected to close by the end of the year.
"We are focused on building healthcare logistics capabilities and services that allow our customers to deliver the newest healthcare innovations," said UPS Healthcare President Wes Wheeler.
The company held $11.7 billion in cash and equivalents as of June 30, 2022.
Price Action: UPS shares are trading higher by 0.12% at $197.00 in premarket on the last check Monday.