Cryoport completes sale of courier business to DHL for $200m

Temperature-controlled solutions company Cryoport has completed the sale of its courier business, focused on focused on clinical trials, biopharma, and cell and gene therapies, to logistics provider DHL Group.

First announced in March, the transaction was valued at around $200m.

Jerrell Shelton, CEO of Cryoport, said the divestment aligns with the company’s long-term strategic vision and allows the company to intensify its focus on advancing its life science service platform.

In addition to the sale, Cryoport and DHL have also formed a strategic partnership to work together on supply chain and logistics opportunities in the life sciences and healthcare sectors.

The partnership will combine Cryoport’s experience in specialised supply chains with DHL’s global logistics network.

“We believe this partnership will enhance our positioning in the Asia Pacific, Europe, and Middle East and Africa regions. It provides … opportunities to offer highlight targeted services in these regions in response to growing market demand,” Shelton added.