Swedish CRO TFS is getting back to M&A, acquiring Beardsworth Consulting Group to bolster its capacity for oncology and vaccine clinical trials.
The company isn't disclosing financial details, but CEO Daniel Spasic said the New Jersey-headquartered BCG will add new capabilities to TFS and dovetail with its plans to expand its reach across the world. TFS wants to scale up its North American operations, planning to employ 600 people, and buying BCG is major step in that direction, Spasic said.
"It adds competencies in active and growing therapeutic areas, increases our operational capabilities in North America and expands substantially our customer portfolio of smaller and mid-sized life science companies in one of the most important global research markets," Spasic said in a statement. "It aligns very well with where we want to be as a company."
The deal is TFS's third in 6 months, following the company's acquisition of Italian CRO Dimensione Ricerca in December and its February buyout of Semcon's electronic data capture business. TFS kept monetary details to itself in both deals, but the CRO expects Dimensione Ricera to contribute about $3.9 million to 2013 revenue, and the EDC acquisition is intended to help TFS recruit clients around the globe.
TFS and BCG have worked together in the past on global oncology studies, and TFS said their operations and quality systems are well-aligned, making for a smooth transition.
- read the announcement