Milan, 2 October 2024 – PHSE, a leading group in temperature-controlled, and time critical pharmaceutical logistics, announces that it has completed the acquisition of 100% of Moving Forward International GmbH (MFI), a German freight forwarding company active in the international shipment (import and export from Germany) of pharmaceuticals, with a strong specialisation in the transport of radiopharmaceuticals, the new frontier in cancer therapies.
The transaction confirms the PHSE Group’s focus on the Radio Pharma market in order to meet the growing demand from large pharmaceutical companies for highly specialised global transport services capable of guaranteeing the delivery of products with a very short shelf-life (even within 24/48 hours) to the patient. The acquisition also provides the Group with entry into a new and strategic key market, Germany, Europe’s leading pharmaceutical market.
“We are excited to welcome Moving Forward International to our Group. MFI’s assets and expertise in radiopharmaceuticals further expand our GDP-compliant and IATA-certified European network for healthcare distribution by land and air worldwide. They will also accelerate our positive growth in Radio Pharma distribution, in which PHSE is one of the pioneers, having started operations in this specialist segment over a decade ago. Today, as well as our own increasing footprint and more than 70 specialist vehicles (15% of the PHSE fleet), we have an extensive global network of qualified agents which enables us to deliver both international and domestic solutions to our customers. We will further expand our own footprint in the coming years, to meet the growing needs of the market”, said Eddy De Vita, Executive Chairman of PHSE Group.
CEO Dario Guerrera and his expert team, will continue to lead the MFI business, which has its operational headquarters and warehousing at Frankfurt Airport, Europe’s first cargo hub, and will be supported by the broader PHSE Group capabilities.
“I am excited and proud to join the PHSE family, and to be able to bring even more capability and experience to support our customers”, commented Dario Guerra, CEO of MFI.
The PHSE Group expects to end 2024 with consolidated revenues of more than 100 million euros.
The transaction was concluded with the financial support of SIMEST, which positively assessed PHSE’s international development strategy and, in particular, the acquisition of MFI.
