Cryoport Acquires Critical Transport Solutions Australia

Cryoport, Inc., a global provider of temperature-controlled supply chain solutions for the life sciences, has acquired Critical Transport Solutions Australia Pty Ltd. (CTSA), a provider of healthcare logistics management services, for approximately $5 million. CTSA, specializing in time- and temperature-critical solutions for the medical and pharmaceutical industries based in Australia, will be a part of Cryoport's CRYOPDP business unit and will continue to be run by the current management team.

The acquisition expands Cryoport's market share in APAC (Asia Pacific) as the number of clinical trials taking place in the region continues to increase. The CTSA acquisition follows the opening of Cryoport Systems and CRYOPDP's first jointly operated global logistics center in Osaka, Japan, in 4Q20. As development of regenerative therapies continues to grow and trials evolve from clinical-stage to commercial-stage, Cryoport enhanced global platform aims to support pharma/biopharmaceutical companies in bringing their regenerative medicine therapies to market.

"Our acquisition of CTSA is what I like to refer to as a tactical acquisition with strategic impact. It is an accretive acquisition providing us with an important foothold in Australia, which is a top five country in APAC for clinical trials and a strategic location from which we can build our client base in the region," said Jerrell Shelton, CEO, Cryoport. "The CRYOPDP team has worked closely with the CTSA team over the past two years. In that time, CTSA has proven its professionalism, client focus and commitment to providing exemplary service. Combining CRYOPDP's global distribution network with CTSA's regional capability is expected to increase our revenue base and provide economies of scale. We are confident that CTSA and its able operating team will be a strong addition to the Cryoport company portfolio in APAC."