UPS® (NYSE: UPS) today announced it has completed the purchase of U.K.-based Polar Speed, an innovative provider of temperature-sensitive pharmaceutical supply chain solutions in the U.K. The acquisition further strengthens UPS's healthcare network across Europe, providing healthcare companies access to a single source for logistics solutions across the continent.
The purchase is part of UPS's successful healthcare strategy and brings new value to customers in this growing market. Polar Speed is recognized for its commitment to pharmaceutical logistics customers. It specializes in active temperature-controlled deliveries to hospitals, pharmacies, wholesalers and surgery centers as well as end patients. Polar Speed also offers unique capabilities within the growing homecare direct-to-consumer delivery market. Its customers include some of the best known pharmaceutical brands in the world.
"The acquisition will help UPS meet the needs of healthcare customers who want to reach the important U.K. market offering increased value in managing more flexible and efficient healthcare supply chains," said Cindy Miller, President UPS Europe. "Our combined services will ensure healthcare companies have access to the best temperature-sensitive transportation solutions and allow us to effectively handle the rising demand for temperature-sensitive pharmaceutical and biologic products."
"Our organization is extremely excited to join forces with UPS," said Richard Holmes, Managing Director of Polar Speed. "With our combined solutions, we will continue to provide high-quality service to our customers, and at the same time provide our employees opportunities to help build on the growth momentum UPS has realized in the healthcare market."
Polar Speed utilizes a fleet of 118 actively monitored temperature-controlled vehicles for transporting both 2-8°C refrigerated and 15-25°C products in accordance with U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) guidelines. The fleet is outfitted with sophisticated technology, including on-board temperature recorders and alarms to alert drivers of potential temperature excursions as well as a PolarTrack, an online portal linked to a satellite navigation system allowing customers to access real-time delivery status and temperature conditions of their products.
