UPS UNITS, HEAMACURE CORP. LAUNCH FINANCIAL, SUPPLY-CHAIN SERVICES
Executives from UPS Logistics Group, UPS Capital Corp., and Heamacure Corp. have launched an agreement for financial and supply chain management services for the Canada-based biomedical company.
Haemacure specializes in innovative biological adhesives, biomaterials and surgical devices for the acute surgical wound care market.
“UPS delivered a single-source solution that would have taken four different companies to duplicate,” said Jim Roberts, chief financial officer of Haemacure. “We have one point of contact and are gaining visibility and consistency on multiple levels. Whether it’s ensuring the integrity of our product during international shipments or assessing our financial data, UPS can handle our needs from start to finish.”
Haemacure recently completed a $6-million credit facility with UPS Capital, which will be used to fund working capital needs and will be backed by its accounts receivable and inventory.
Upon conclusion of the remaining agreements, UPS Logistics Group will provide inbound and outbound transportation as well as warehousing and fulfillments services for Haemacure’s biological adhesive, Hemaseeel APR, from the manufacturer in Vienna, Austria, to the refrigerated warehouse and distribution facility in Fort Worth, Texas, to the company’s customer hospitals throughout the United States
“Haemacure understands the critical importance of supply chain management to the company’s overall success,” said Dan DiMaggio, chief executive officer of UPS Logistics Group. 'Linking supply chain services with asset-based funding will allow Haemacure to leverage our strengths to support its complex global operations.”
“This is the crystallization of helping our customers enable global commerce bringing the offerings of UPS and its other subsidiaries,” said Bob Bernabucci, CEO of UPS Capital.
UPS Logistics Group, a subsidiary of United Parcel Service Inc., provides global supply chain management services. UPS Capital is a wholly-owned subsidiary of UPS and is a key component of UPS’s business strategy of enabling the flow of goods, information and funds.