Andlauer Healthcare Group (AHG) announced that it has entered into a definitive arrangement agreement with affiliates of UPS under which UPS has agreed to acquire AHG via an all-cash transaction that values AHG at an equity value of approximately $2.2 billion (US$1.6 billion).
Under the agreement, AHG shareholders will receive $55 per share in cash, which represents a premium of 31% to the stock’s last close, according to a news release.
“I look forward to working with UPS to leverage its logistics capabilities to enhance AHG’s specialized transportation and healthcare logistics services to our clients,” Michael Andlauer, CEO of AHG said in the release. “I am also excited that AHG employees will continue to have opportunities to grow and that UPS shares our cultural values.”
“New, complex treatments are coming to market quicker than ever before, driving better patient outcomes and increased global demand for specialized logistics services,” said UPS executive vice-president and president of international, healthcare and supply chain solutions Kate Gutmann. “We are excited to add AHG’s expertise, culture and capabilities to UPS Healthcare’s commitment to excellence. This acquisition strengthens our ability to meet growing customer need for integrated, end-to-end cold chain solutions around the world.”
Following the close of the transaction, Michael Andlauer will lead UPS Canada Healthcare and AHG to expand the businesses’ specialized capabilities and meet the needs of healthcare customers.
