FedEx Corp. has launched a life sciences division offering specialized logistics services for companies shipping pharmaceuticals, medical devices, biologics, clinical trial drugs and other critical healthcare shipments, the company announced on Thursday.
The move is part of a growing strategy at FedEx (NYSE: FDX), as well as rivals UPS and DHL, to pivot from the legacy parcel delivery business to focus on high-margin, premium market segments such as healthcare.
Chief Commercial Officer Brie Carere first mentioned the launch of FedEx Life Sciences during the company's earnings presentation on June 23, saying the company saw strong growth opportunities in the $80 billion healthcare transportation market.
"Transporting vital healthcare deliveries requires more than just standard logistics. It depends upon an intelligent, highly specialized network built for patient-critical needs," she said in Thursday's news release.
Most of FedEx's 13% revenue growth during the fourth quarter ended May 31 came from B2B premium markets such as automotive, healthcare, aerospace, data centers and specialized B2C.
The move is part of a growing strategy at FedEx (NYSE: FDX), as well as rivals UPS and DHL, to pivot from the legacy parcel delivery business to focus on high-margin, premium market segments such as healthcare.
Chief Commercial Officer Brie Carere first mentioned the launch of FedEx Life Sciences during the company's earnings presentation on June 23, saying the company saw strong growth opportunities in the $80 billion healthcare transportation market.
"Transporting vital healthcare deliveries requires more than just standard logistics. It depends upon an intelligent, highly specialized network built for patient-critical needs," she said in Thursday's news release.
Most of FedEx's 13% revenue growth during the fourth quarter ended May 31 came from B2B premium markets such as automotive, healthcare, aerospace, data centers and specialized B2C.
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