The U-Freight Group (UFL) has signed a strategic cooperation agreement with the Shanghai Hongyu Supply Chain Management Co (HYSC) designed to capitalise on the latter’s extensive expertise in China’s medical and healthcare sector, and UFL’s strength in international freight forwarding and logistics.
HYSC has a leading position in China’s supply chain management for medical and healthcare products, and the cooperation with UFL will see the two companies share resources to develop complementary domestic and foreign supply chain management networks, incorporating transportation, storage and associated logistics services.
The two companies will create a global one-stop medical supply chain service, providing clients with more choices in managing the supply chains of their medical and health care devices, as well as more integrated distribution and fulfilment operations worldwide.
Providing an important stimulus for Chinese medical and healthcare equipment manufacturers and traders to capitalise on global opportunities, the cooperation is also designed to provide effective third party logistics support for foreign health and medical device business to enter the Chinese market.
This cooperation will accelerate HYSC’s global development in this niche sector by leveraging the opportunities of the UFL Group’s extensive global network and 55 years of experience in international cross-border warehousing and logistics services.
Jacky Cao , general manager of HYSC, noted that a recent meeting of a Standing Committee of the State Council of the People’s Republic of China focused on the country’s huge medical and healthcare equipment market and the need to reduce logistics costs associated with production, distribution and international expansion.
“The cooperation between HYSC and UFL aligns with this meeting’s objectives, bringing cost effective and efficient logistics services to the medical and healthcare equipment manufacturing and procurement market, both in China and in international markets.
“I firmly believe that through the cross-border integration of the logistics and procurement activities of UFL and HYSC, we will create even greater values, set an example in this niche sector, and drive industry development.”
Simon Wong, UFL’s CEO, says the company’s history has always been based on leveraging the benefits of cooperating with like-minded logistics businesses, rather than competing with them.
”In markets where we don’t have our own operation, we have developed exclusive partnerships with regionally strong businesses. Some of these alliances are over 40 years old. Our cooperation with HYSC shows how we are embracing innovation to offer one-stop manufacturing, procurement and logistics solutions in the niche medical and healthcare equipment sector.”
The alliance between the two companies will be comprehensive, encompassing not only traditional trade, but also e-commerce and other avenues.
