UPS has entered into a definitive purchase agreement to acquire Marken. The transaction, which provides UPS with growth opportunities across the life sciences customer base, is expected to close by December 31, subject to customary conditions and regulatory approvals. Terms of the acquisition were not disclosed.
“Healthcare logistics is a strategic market for UPS. Our acquisition of Marken strengthens our portfolio and demonstrates our commitment to customers,” said Teresa Finley, UPS Chief Marketing and Business Services Officer, adding, “We plan to offer new solutions to our customers and generate further growth opportunities for UPS.”
Wes Wheeler, Marken’s Chief Executive Officer, will continue to lead the Marken business, which will operate as a wholly-owned subsidiary of UPS. “We are excited to join the UPS organization,” he stated. “UPS’s capabilities, particularly in mature markets, will provide many opportunities for us to enhance our service offerings in clinical trials logistics.”
“With UPS, we will improve our efficiency, while continuing to provide our clients with the high-touch, personalized services that they have come to expect from us”, he added.