DHL Global Forwarding has bought out Lufthansa Cargo’s half of LifeConEx, the joint venture started in 2005 to provide life sciences companies a cold-chain transportation manager with stringent controls for temperature-sensitive products.
The logistics company’s value proposition is that it integrates the operating standards of the airline, ground handling, packing, technology and freight forwarder service providers to ensure there are no breakdowns in the chain of custody. It covers all transportation modes and shipment sizes for customers involved in pharmaceutical production, biotechnology, vaccines, diagnostics, medical devices, testing laboratories and clinical trial enterprises.
LifeConEx has a better opportunity to grow market share as a full subsidiary of DHL, the two partners said. DHL’s investment furthers parent company Deutsche Post DHL’s strategy to beef up its Life Sciences sector.
Lufthansa is a leader in temperature-controlled shipping practices, and said it plans to further develop international hubs for handling pharmaceutical products. It will continue to be one of LifeConEx’s air carriers.
LifeConEx Chief Executive Officer David Bang will continue to lead the company. Terms of the sale were not disclosed.