Cryoport's CRYOPDP Expands U.S. Footprint with Acquisition of Bluebird Express

Rhea-AI Summary

Cryoport, Inc. (NASDAQ: CYRX) announced the acquisition of Bluebird Express, LLC, a provider of time-sensitive domestic and international transportation services. The acquisition aims to strengthen CRYOPDP's U.S. logistics operations and expand its global supply chain network. Bluebird Express will merge into CRYOPDP's global network, enhancing its capabilities in the critical life sciences market. The addition of Bluebird Express will increase Cryoport's U.S. footprint and further the expansion of its global infrastructure and competencies.

CRYOPDP's Acquisition of Bluebird Express Adds Further Domestic and International Transportation Services Strengthening CRYOPDP's U.S. Logistics Operations

NASHVILLE, Tenn., Nov. 16, 2023 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), 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, today announced the expansion of its global supply chain network with the acquisition of Bluebird Express, LLC ("Bluebird Express"), a provider of time-sensitive domestic and international transportation services. Bluebird Express will join Cryoport's CRYOPDP business unit.

Bluebird Express, headquartered in Valley Stream, New York, has more than 20 years of experience in logistics solutions, specializing in domestic and international air and ground transportation. With key operations centers in Los Angeles (LAX) & New York (JFK), Bluebird Express is a fully accredited cargo agent certified by the International Air Transport Association (IATA) and an indirect air carrier (IAC) authorized and regulated by the Transportation Security Administration (TSA). Cryoport has had a strong working relationship with Bluebird Express since 2016.

"CRYOPDP has extensive experience in supporting the life sciences industry, including the rapidly growing market for cell and gene therapies. The United States has been leading the way in cell and gene therapy clinical trials since 2022, with over 400 companies actively developing cell and gene therapy products for various applications. The addition of Bluebird Express, which already has an extensive working relationship with Cryoport, and its team of seasoned veterans will merge into CRYOPDP's global network and will expand our U.S. presence and enhance our capabilities in this critical life sciences market and further enable us as we continue to deliver unparalleled service and value to our clients," said Cedric Picaud, CEO, CRYOPDP.

Jerrell Shelton, CEO of Cryoport, commented, "Bluebird Express' competencies combined with CRYOPDP's existing capabilities will allow us to offer an even greater array of end-to-end logistics solutions to both our U.S. and global life sciences clients. Additionally, Bluebird Express' major operating centers in New York and Los Angeles, along with the expertise of its team will increase our U.S. footprint as well as further the expansion of our global infrastructure and competencies. The resulting synergies will create significant global cross-selling opportunities throughout our organization."

CRYOPDP operates in 16 countries worldwide, serving customers in over 135 countries. Recognizing the importance of temperature-controlled logistics to the life sciences, CRYOPDP provides premium logistics, cold chain solutions, and tailor-made services for its clients. CRYOPDP is known for its reliability, flexibility and wealth of global logistics expertise.

About Cryoport, Inc
Cryoport, Inc. (Nasdaq: CYRX), is a 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. With 48 strategic locations covering the Americas, EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific), Cryoport's global platform provides mission-critical bio-logistics, bio-storage, bio-processing, and cryogenic systems to the life sciences markets worldwide.

For more information, visit www.cryoport.com or follow @cryoport on X, formerly known as Twitter at www.twitter.com/cryoport for live updates.

Forward-Looking Statements
Statements in this press release which are not purely historical, including statements regarding the Company's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, those related to the Company's industry, business, long-term growth prospects, including expected growth in all of the Company's markets, plans, strategies, acquisitions, future financial results and financial condition, such as the Company's outlook and guidance for full year 2023 revenue and the related assumptions and factors expected to drive revenue, projected growth trends in the markets in which the Company operates, the Company's plans and expectations regarding the launch of new products and services, such as the expected timing and benefits of such products and services launches, the Company's plans to further strengthen its business and continue to position itself for long-term and profitable growth in the cell and gene therapy industry, and anticipated regulatory filings or approvals with respect to the products of the Company's clients. It is important to note that the Company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, including as a result of the COVID-19 pandemic and its variants, supply chain constraints, inflationary pressures, the ongoing war between Russia and Ukraine and the effects of foreign currency fluctuations, trends in the products markets, variations in the Company's cash flow, market acceptance risks, and technical development risks. The Company's business could be affected by a number of other factors discussed in the Company's SEC reports, including in the "Risk Factors" section of its most recently filed periodic reports on Form 10-K and Form 10-Q, as well as in its subsequent filings with the SEC. The forward-looking statements contained in this press release speak only as of the date hereof and the Company cautions investors not to place undue reliance on these forward-looking statements. Except as required by law, the Company disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

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SOURCE Cryoport, Inc.

FAQ

What is the significance of Cryoport's acquisition of Bluebird Express for CRYOPDP?

The acquisition aims to strengthen CRYOPDP's U.S. logistics operations and expand its global supply chain network, enhancing its capabilities in the critical life sciences market.

Where is Bluebird Express headquartered and what are its areas of specialization?

Bluebird Express is headquartered in Valley Stream, New York, and specializes in domestic and international air and ground transportation, with key operations centers in Los Angeles (LAX) & New York (JFK).

What are the benefits of the acquisition for Cryoport's clients?

The acquisition will allow Cryoport to offer an even greater array of end-to-end logistics solutions to both its U.S. and global life sciences clients, creating significant global cross-selling opportunities throughout the organization.