UPS announced September 28 that it had entered into an agreement to acquire the Long Beach, California-based company MNX Global Logistics. UPS said that the acquisition will help the organization better serve its healthcare customers that need “time-sensitive, often life-impacting logistics solutions.”

In 2020, UPS launched a healthcare logistics business unit known as UPS Healthcare at the onset of the COVID-19 Pandemic. With the operation in place, UPS became one of the first major shippers to supply countries around the world with the COVID-19 vaccine when it became available in 2021.

"UPS already brings extensive capability and industry-leading on-time delivery to our customers, and that breadth and reliability is why they place their trust in us,” said the EVP and president of UPS International, Healthcare and Supply Chain Solutions, Kate Gutmann. “Together with MNX, we will further that reliability and speed globally, especially for our UPS Healthcare customers. We continue to invest in services that bring unique value to our customers and create additional growth opportunities for UPS.”

Though UPS did not disclose the financial details of the deal, the acquisition is expected to be completed by the end of 2023, according to The Wall Street Journal.

J.P Morgan Securities LLC will serve as the exclusive financial advisor for UPS during the deal while King & Spalding will act as the company’s legal advisor.