FedEx Corporation has set up a cold storage facility at the Shanghai Pudong Airport for its temperature-controlled supply chain business, reflecting its optimism about healthcare industry-related business in Asia Pacific, the National Business Daily reported Friday. The move comes after FedEx rolled out a new cold storage and packaging service for healthcare products in August 2013. FedEx’s competitors UPS and DHL have also launched similar storage and distribution centers in China to target healthcare customers. According to FedEx’s managing director of life sciences and specialty services Richard Smith, the Asia Pacific healthcare market is growing at twice the speed of the global market, with China expected to account for up to 34 percent or US$88.4 billion of the global additional healthcare expenditure between 2012 and 2017, the report said.
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