Cryoport, Inc., a leading global provider of innovative products and services to the fast-growing cell and gene therapy industry enabling the future of medicine for a new era of life sciences, announced the acquisition of Tec4med Lifescience GmbH, a solution provider and innovation leader in the pharmaceutical supply chain visibility, condition monitoring and temperature-controlled packaging space.
Tec4med was founded in 2017 by Nico Höler and Julian Poths as a technology spin-off of the Technical University of Darmstadt, Germany. Situated in the Frankfurt area, a global logistics hub for the pharmaceutical industry, Tec4med provides next generation pharmaceutical supply chain visibility by integrating condition monitoring, cloud and artificial intelligence (AI) solutions. ISO 9001-certified, Tec4med works with pharmaceutical-compliant, ready-to-use devices and intuitive easy-to-use software, offering customer-specific integrations to meet the rigorous standards of each individual client. Tec4med will continue to be run by the current management team.
“The acquisition of Tec4med is an important step for us in broadening our portfolio of condition monitoring solutions, fostering new product development and accelerating European market expansion, particularly in the DACH region (Germany, Austria, Switzerland),” commented Jerrell Shelton, CEO of Cryoport. “By integrating Tec4med’s innovative solutions and services across Cryoport’s family of companies, we will also expand our digital supply chain solutions offerings for the life sciences industry and provide our global clients even greater condition monitoring system options, logistics management capabilities and customer support.”
“The biopharmaceutical industry loses approximately $35 billion annually as a result of failures in temperature-controlled logistics. Adding Tec4med’s technology and project-based expertise will enhance Cryoport’s end-to-end supply chain solutions — including advanced real-time condition monitoring — and drive its digitization to provide our customers with full transparency within the pharmaceutical supply chain,” said Mark Sawicki, CEO of Cryoport Systems. “The Tec4med technology services will supplement and complement Cryoport’s existing services, bolstering the seamless integration of condition monitoring hardware and software throughout our solutions portfolio.”