WSJ News Exclusive | UPS Nears Deal to Buy Italian Healthcare-Logistics Provider Bomi Group
United Parcel Service Inc.
is nearing a deal to acquire Italy’s Bomi Group, according to people familiar with the matter, as the transportation giant looks to bolster its medical-product-distribution business.
The deal, worth several hundred million dollars, could be finalized as soon as Monday assuming the talks don’t break down at the last minute, the people said.
Founded in 1985, closely held Bomi distributes a range of medical products such as imaging equipment, biological samples and pharmaceuticals to hospitals, clinics, laboratories as well as to patients’ homes. It operates in Europe and Latin America, according to the company’s website.
A deal for Bomi would expand Atlanta-based UPS’s operations in those regions and underscore the growing importance of the transport of medical supplies and equipment in the wake of the Covid-19 pandemic.
In June, an investment group led by global buyout firm
AB agreed to acquire Sweden-based medical-freight provider Envirotainer AB for close to $3 billion.
Bomi would represent a relatively small acquisition for UPS, which has a market value of close to $172 billion.
UPS is acquiring the business from French buyout firm ArchiMed, which together with Bomi’s founding Ruini family purchased the company in 2019 in a €100 million ($102 million) deal. Since then, the logistics company has acquired more than six rivals, cementing its position as Italy’s largest transport and warehouse operator for the healthcare industry and expanding its operations in Brazil, the U.K. and Spain.
ArchiMed manages over €5 billion in assets that are concentrated across the healthcare sector. It focuses its investments on areas such as biopharmaceutical products and services, life-science tools and medical devices and technologies.
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Appeared in the August 8, 2022, print edition as ‘UPS Nears Overseas Healthcare Acquisition.’
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