UPS’s acquisition of Marken is made official
UPS said late last month it officially completed its acquisition of Marken, a provider of global supply chain solutions for the life sciences industry based in Durham, NC and London, England. The acquisition was originally announced by UPS in early November, coming a little more than three months after saying it had expanded logistics capabilities for clinical trials. Financial terms of the deal were not disclosed.
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The acquisition was originally announced by UPS in early November, coming a little more than three months after saying it had expanded logistics capabilities for clinical trials. Financial terms of the deal were not disclosed.
UPS said that with Marken now in the fold, Marken is a wholly-owned subsidiary of UPS and provides the company with growth opportunities across the life sciences and customer base.
“Healthcare logistics is a strategic market for UPS,” said Teresa Finley, UPS Chief Marketing and Business Services Officer, in a statement. “Our acquisition of Marken strengthens our portfolio and demonstrates our commitment to customers and the healthcare industry. UPS added that Wes Wheeler will continue as CEO of Marken and will report to Finley.
When the deal was first announced in November, UPS said this acquisition will provide the company with growth opportunities across the life sciences customer base. And they added that clinical trials require strict regulatory compliance, streamlined logistics services, and global reach, which is where Marken’s operations of a global network of clinical supply chain services to meet increasingly complex customer demands, made it a good fit, along with various acquisitions UPS has made to expand its healthcare logistics services offering portfolio.
Marken’s services are geared towards pharmaceutical companies, clinical research organizations, and contract manufacturers that use the company for the collection and transportation of clinical trial material and investigational medicinal products to 49,000 clinical trial sites and the shipment of biological samples from those cites to central laboratories. And UPS said that those shipments are real-time and temperature-sensitive, with rapid, on-spec delivery a key factor in patient treatment and clinical trial success. Marken has more than 650 employees.
When asked what drove the need for UPS to decide to acquire Marken, John Menna, Vice President, Healthcare Logistics Strategy at UPS, told LM in November that both companies recognized they have complementary services, coupled with UPS making investments in a range of specialized solutions that will help biopharmaceutical companies and clinical investigators move sensitive materials and specimens globally, particularly in and out of complex regulated markets.
“The healthcare segment is a high priority for UPS, and Marken is a well-established leader in clinical trials logistics,” he said. “It has important capabilities and credibility in this space.”
Menna explained that the combination of UPS and Marken allow both organizations to leverage their strengths to benefit customers through the full suite of UPS’s logistics services now available to support clinical trials. He also noted that bringing Marken into the fold builds on multiple acquisitions UPS has made in the healthcare logistics space.
In terms of growth opportunities for UPS through this deal, Menna said that while Marken and UPS both have extensive geographic reach, in the clinical trials space, Marken provides greater depth and tailored clinical trials expertise in some geographies.
“This acquisition provides UPS with a platform to build upon our options and services in the countries we already serve,” he said.
Menna added that UPS places a great deal of value on the talent at Marken and to expand in the market and position the company to capitalize on future growth.
About the AuthorJeff Berman, Group News Editor Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman
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