As part of efforts to deepen its ties in the European market, Veristat has acquired Switzerland-based SFL (Solutions for Life Sciences) for an undisclosed price.
Veristat, a Southborough, Massachusetts-based CRO, said the deal will provide access to an SFL team with deep experience covering a range of therapies in orphan disease and oncology looking to further treatments that could combine artificial intelligence, devices and diagnostics. SFL’s background in the EU, the U.K. and the Swiss healthcare systems represent an advantage for a U.S. company looking to get into those markets, the company said.
“Our clients increasingly seek a CRO partner with experience in addressing the intricate challenges in program design, clinical trial conduct, and the regulatory approval and commercialization process,” Patrick Flanagan, Veristat’s chief executive, said in a statement. “(The deal) will unlock meaningful potential and strengthen our ability to positively influence the scientific progress, regulatory assessment and launch success for patients with difficult-to-treat diseases and conditions.”
With SFL on board, Veristat will be able to expand its quality assurance and pharmacovigilance capabilities into Europe and strengthen core service areas such as public affairs, market access, supply chain and healthcare compliance, Flanagan added.
Veritas made a similar purchase a year ago when it snapped up U.K-based specialty contract research firm SQN Clinical for an undisclosed amount. The deal, which added about 80 employees, gave Veritas a wide spectrum of trial, data and project management solutions. In early 2020, Veritas picked up fellow CRO The Clinical Trial Company, also based in the U.K.