Cryoport Inc., a provider of temperature-controlled supply chain solutions for the Life Sciences, has completed the previously announced divestiture of its specialty courier business, CRYOPDP, to DHL Group, a leading logistics provider, in a transaction that includes cash payments of approximately $200 million to Cryoport.

At the same time, Cryoport and DHL have established a strategic partnership aimed at enhancing their respective supply chain service offerings for the global life sciences and healthcare sector.

New Strategic Partnership

This newly formed strategic partnership enables the companies to collaborate on strategic opportunities, leveraging Cryoport’s expertise in specialized supply chain solutions with DHL’s global health logistics infrastructure and services, bringing an array of specialized pharma logistics and services to the life science and healthcare market segment.

Jerrell Shelton, CEO of Cryoport, commented, “Our strategic partnership and this transaction mark a significant step that contributes to the continued evolution of our industry and aligns with Cryoport’s long-term strategic vision. With this partnership, we are enhancing our core capabilities as we develop a strong global partner network.”

Shelton believes this partnership with DHL will enhance Cryoport’s positioning in the Asia Pacific (APAC) and Europe, Middle East and Africa (EMEA) regions where it will reshape the company’s competitive profile. It provides for greater opportunities to offer highly targeted, top-tier services in these regions in response to growing market demand. Most importantly, it allows Cryoport to intensify its focus on advancing its Life Science Services platform globally, particularly in the rapidly growing Regenerative Medicine market.

“This strategic partnership and divestiture of CRYOPDP delivers a healthy capital infusion, improves our growth trajectory and places us in a solid position to reach our goal of sustainable, long-term profitability,” Shelton concluded.