The transaction, terms of which were not released, is expected to close by December 31, 2016.
Wes Wheeler, Marken CEO, told us the company has been working closely with UPS over the past number of weeks, and that UPS is “a very natural owner for the company.”
“We’ve been primarily owned by private companies in the past,” added Wheeler. “I think it makes sense now for the company to be owned by a natural owner and UPS is certainly that.”
According to Wheeler, by combining both companies’ services, Marken will be able to provide a more comprehensive package to its clients – many of which overlap with UPS.
Moving forward, Marken will operate as a wholly owned subsidiary of UPS. John Menna, VP of Marketing, Healthcare Logistics at UPS told us this means there will be very little integration. However, he explained, “at some point we’ll find some areas where it makes sense to do some things more efficiently.”
As Wheeler said, this may include using UPS’ airplanes in certain parts of the world, as Marken currently uses commercial airlines for much of its transportation.
“UPS has been extremely focused on the health care and life sciences industry for several years,” added Menna, who said that the company has adding to these capabilities both organically and through acquisitions.
As per its acquisition of Marken, Menna explained it augments UPS’ additional capabilities to provide “end to end” solutions to customers in the industry.
“We want to make sure we’re bringing those solutions to customers in the most expeditious way,” he added, commenting that bringing a high level of customer service is going to be a focus of both companies.
Wes added that it will continue to augment its facilities across the globe, as demonstrated by its recent new GDP-compliant facility in Zurich, Switzerland, and expanded capabilities at its Moscow depot.
“We’ll continue to expand, perhaps using space that UPS has in countries that we’re not currently operating,” he said. “That depot strategy will continue.”