UPS Buys MNX Global Logistics To Strengthen Presence In Healthcare Industry

United Parcel Service Inc UPS penned a deal to acquire MNX Global Logistics (MNX) for an undisclosed amount.

Post-completion, the acquisition is expected to bring more precision and capability to UPS customers in the healthcare and related industries. 

With the addition of MNX's capabilities in radio-pharmaceuticals and temperature-controlled logistics, UPS Healthcare and its clinical trial logistics subsidiary are expected to meet the rising demand for such services in the industry. 

The transaction is expected to close by the end of the year, subject to customary regulatory review and approval.

"UPS already brings extensive capability and industry-leading on-time delivery to our customers, and that breadth and reliability is why they place their trust in us. Together with MNX, we will further that reliability and speed globally, especially for our UPS Healthcare customers. We continue to invest in services that bring unique value to our customers and create additional growth opportunities for UPS," commented EVP and President of UPS International, Healthcare and Supply Chain Solutions Kate Gutmann.

Also Read: UPS CEO Successfully Pitches New Labor Contract, Says 46% Of Compensation To Occur In First Year

UPS’ operating cash flow for six months ended June 30, 2023, totaled $5.59 billion, and free cash flow was $3.84 billion.

Price Action: UPS shares are trading higher by 1.39% at $154.54 on the last check Thursday.

Photo Via Company