Ben Dummett, Laura Cooper
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 /zigman2/quotes/201245396/composite UPS +1.43% 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.
Also popular on WSJ.com: