By Joseph Keenan
Sweden-based CRO TFS HealthScience continued its march of global growth by inking a deal to acquire parts of GCP Clinical Studies, a CRO based in Israel.
Israel ranks in the top 20 countries in the world for registered pharmaceutical-sponsored clinical studies, TFS pointed out in a March 20 press release. The nation also boasts 1.5 to 3 times more decentralized clinical trial components than the global average.
GCP’s CRO business, including employees and projects, will become part of TFS while the Israeli company’s training facility will remain with GCP, which is part of the Shizim Group. Financial terms of the agreement weren’t disclosed.
The deal will add to TFS’ experience in specialty therapeutics such as ophthalmology, oncology and hematology, dermatology, immunology and inflammatory disease, and internal medicine and neuroscience.
“2023 continues to be a year of growth for the company as we announce our formal expansion into Israel,” TFS’ head of clinical development solutions, Luke Gill said in the release. “We are confident that this expansion will bring immense value to our clients and ultimately support the development of more lifesaving therapies.”
TFS kicked off the year with the acquisition of Appletree CI Group for an undisclosed price as part of a move to grow its presence in ophthalmology. The purchase also extended TFS’ geographic footprint in 11 European countries as well as its expertise in regulatory affairs.
