UPS Inc. is expanding its capabilities in logistics solutions for healthcare industries such as radio- and bio-pharmaceutical products, announcing today that it has agreed to acquire MNX Global Logistics, a California-based time-critical logistics provider.
According to UPS, the acquisition will bring more precision and capability to UPS customers in healthcare and related industries who rely upon time-sensitive, often life-impacting logistics solutions.
Terms of the deal were not disclosed, but MNX is owned by the private equity firm Quad-C Management Inc., which bought the company in 2021 from its previous owner, Audax Private Equity.
MNX said its capabilities in radio-pharmaceuticals and temperature-controlled logistics will help UPS Healthcare and its clinical trial logistics subsidiary Marken meet the growing demand for these services in the healthcare industry. UPS acquired Marken in 2016 in a move to gain market share in life sciences areas like clinical trials material storage and distribution.
According to MNX, its clients include multinational companies in the biopharmaceutical, life sciences, high-tech, medical device, aviation, and financial industries, who use it for safe and securely deliver of high-value, time and temperature-sensitive shipments around the world. MNX serves 190 countries and territories with services including Next Flight Out (NFO), Air Charter, On-Demand Courier, Managed Transportation, Service Parts Logistics (SPL) and Specialty Freight.