Cryoport will expand its presence in the EMEA region through the acquisition of Belgium-based temperature-controlled supply chain solutions firm F-Airgate.
Cryoport, a temperature-controlled supply chain services company for the life sciences, has agreed to buy F-airgate, which will join Cryoport’s CRYOPDP business unit.
No financial details have been divulged.
Image: iStock/dk_photos
“This acquisition will expand our coverage in Europe and enable us to provide end-to-end solutions to both global and local customers in Belgium, which is a highly strategic area for Pharma/BioPharma activity in Europe,†said Jerrell Shelton, CEO of Cryoport.
Shelton added: “This tactical acquisition of F-Airgate will provide strategic impact for CRYOPDP as requests for local, on-the-ground operations in Belgium, a key market for BioPharma and R&D logistics, continues from many of our Biopharmaceutical/Pharma clients, as well as from potential new clients.â€
Cryoport will retain F-Airgate’s Beligum facility, which expands its global footprint in the EMEA (Europe, Middle East, and Africa) region. This marks CRYOPDP’s 11th site in Europe, and first facility in Belgium.
The firm says the site is in a strategic location for its customers in the life science industry who need temperature-controlled solutions.
“With F-Airgate now operating as part of our growing CRYOPDP business unit, we are confident this acquisition will provide us with additional capacity in the EMEA region through F-Airgate’s on-the-ground headquarters, agent network and numerous partnerships with local logistics providers,” said Shelton.
This is the latest in a string of acquisitions by Cryoport.
The firm acquired temperature-controlled logistics firm CRYOPDP in August 2020 for $58 million.
In the same month, Cryoport added cryogenic freezer systems firm MVE Biological Solutions for $320 million to boost its position in the temperature-controlled cell and gene therapy logistics space.