UPS, the world’s largest package-delivery company, has announced that it will acquire MNX Global Logistics, a specialist in time-critical logistics for the healthcare industry and other sectors.
The deal, which is expected to close by the end of the year, will enhance UPS’s ability to provide customers with “time-sensitive, often life-impacting logistics solutions,” the company said in a statement on Thursday.
MNX’s expertise will complement UPS’s healthcare business, which offers temperature-controlled packaging, storage and distribution services for pharmaceuticals, biologics and medical devices. It will also boost UPS’s clinical-trial logistics business Marken, which delivers clinical supplies and biological specimens across the globe.
UPS did not reveal the financial terms of the deal, but said that MNX has annual revenues of about $114 million and serves over 190 countries. MNX has more than 600 employees and operates from 27 locations, including its headquarters in Irvine, California.