UPS has acquired Polar Speed, a UK-based provider of temperature-sensitive pharmaceutical supply chain solutions. The acquisition expands UPS’s healthcare network across Europe. Polar Speed specializes in active temperature-controlled deliveries to hospitals, pharmacies, wholesalers and surgery centers as well as end patients. The company also has capabilities within the homecare direct-to-consumer delivery market. Terms of the transaction were not disclosed.
Polar Speed has a fleet of 118 actively monitored temperature-controlled vehicles for transporting both 2-8°C refrigerated and 15-25°C products in accordance with UK’s MHRA guidelines. The fleet incorporates on-board temperature recorders and alarms to alert drivers of potential temperature excursions, as well as PolarTrack, an online portal linked to a satellite navigation system, allowing customers to access realtime delivery status and temperature conditions of their products.
This acquisition adds three facilities with advanced warehousing management systems, full quality assurance services, and an experienced workforce, bringing UPS’s existing global healthcare network to 45 healthcare facilities. UPS’s healthcare reach in Europe now includes dedicated healthcare distribution centers in the Benelux area, Central and Eastern Europe, Southern Europe, the Iberian Peninsula and the UK.
“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,” said Cindy Miller, president, UPS Europe. “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.”
“Our organization is extremely excited to join forces with UPS,” said Richard Holmes, managing director of Polar Speed. “With our combined solutions, we will continue to provide high-quality service to our customers, and at the same time provide our employees opportunities to help build on the growth momentum UPS has realized in the healthcare market.”
Financial terms were not disclosed. Merrill Lynch International (Bank of America Merrill Lynch), a subsidiary of Bank of America Corp., acted exclusively for UPS in connection with this transaction.