In an effort to breach the lucrative medical delivery industry, UPS purchased Durham, N.C.-based medical delivery company Marken, The Wall Street Journal reports.
The acquisition will nearly double UPS' healthcare-dedicated facilities to more than 100 worldwide.
While UPS' traditional industrial and retail customers steer toward less timely and inexpensive delivery options, the shipper's move into medical delivery could be instrumental in extending its express shipping business. Marken's delivery of clinical trial materials and medicine are time- and temperature-sensitive, according to the report.
The terms of the acuqistion were not disclosed.
Marken — which brought in about $45 million last year — has more than 650 employees and oversees 50,000 biological and drug shipments per month, according to the report.
More articles about supply chain:
Safety-net hospitals call for federal investigation into alleged EpiPen overcharges
Logistics industry adds 7,500 jobs in October: 4 things to know
Novo Nordisk defends insulin costs after US Senators allege pricing collusion