UPS (NYSE: UPS) has closed a deal for London’s Polar Speed for an undisclosed amount.
Polar Speed provides pharmaceutical supply chain services in the U.K. The company specializes in making temperature-controlling deliveries to hospitals, pharmacies, wholesalers and surgery centers, as well as home patients. Polar Speed has a fleet of 118 temperature-controlled vehicles.
UPS expects the deal to strengthen its health care network across Europe, so it can provide logistics services to health care companies. The deal adds three facilities with warehousing management systems to UPS. Now that the deal has closed, UPS has 45 health care distribution centers in the Benelux area, Central and Eastern Europe, Southern Europe, Iberian Peninsula and the U.K.
Merrill Lynch International acted as UPS’ financial adviser on the deal.
The deal follows UPS’ purchase of Hungary-based pharmaceutical logistics group Cemelogin August, the opening of a health care facility in Hangzhou, China, and the expansion of six health care facilities in North America.