UPS aquires Polar Speed
UPS today announced it has completed the purchase of U.K.-based Polar Speed, the company specialises in active temperature-controlled deliveries to hospitals, pharmacies, wholesalers and surgery centres as well as end patients. 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 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 organisation 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 realised in the healthcare market.”
Polar Speed utilises 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.
This acquisition adds three facilities with advanced warehousing management systems, full quality assurance services, and an experienced workforce to UPS’s existing global healthcare network, now totaling 45 healthcare facilities.
“Polar Speed is an excellent strategic and operational fit for UPS because of its focus on quality assurance, compliance, technology and monitoring solutions to protect high-value and sensitive pharmaceuticals during storage and transportation,” said Miller. Polar Speed’s services include pallet and small package delivery, warehousing and distribution, on-site pharmacy services for dispensing patient prescriptions, and a home delivery service for approved patients.
The announcement follows UPS’s acquisition of Hungary-based pharmaceutical logistics company, CEMELOG, the opening of a healthcare facility in Hangzhou, China, and the expansion of six UPS healthcare facilities across North America in 2013.