United Parcel Service Inc.UPS 1.15%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 biological samples and pharmaceutical imagings to hospitals, clinics, laboratories as well as to patients’ homes. 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. It focuses its investments on areas such as biopharmaceutical products and services, life-science tools and medical devices and technologies.

Source: Wall Street Journal August 07, 2022 23:38 UTC