TFS International, a CRO based in Sweden, has signed an agreement to acquire Dimensione Ricerca, an independent clinical CRO based in Rome and Milan, Italy.
The acquisition will expand TFS’ operational reach in Italy with country head office in Rome and an operational office in Milan. Dimensione Ricerca is a privately held company owned by Dr. Stefano Marini, also president of the European CRO Federation (EUCROF), and Francesca Sgrignani and was established in 1990. For 22 years the company has successfully managed clinical trials in phase II-IV in Italy with in-house capabilities such as project management, monitoring, data management, biostatistics, market access consultancy and medical writing. Dimensione Ricerca employs about 40 clinical research professionals.
"Dimensione has a long clinical research track record in Italy. It is one of the first CROs established in Italy,” said Ricard Quingles, regional managing director of South Europe, TFS. “Following several years of collaboration between our companies, the integration of Dimensione within the TFS Group is a natural further step. TFS continues to build on best in class companies in local markets and in the meantime providing a better coverage for international trials.”
After the acquisition, Marini will oversee operations in Italy. He has nearly three decades of experience in pharmaceutical industry research, mainly managing clinical trials. Marini was with Janssen Italy for over eight years, where he was responsible for CNS R&D. He also spent more than six years at the University of Rome as an investigator.
"TFS is a relatively young company, fresh, dynamic and full of positive energy,” said Marini, owner of Dimensione Ricerca. “The employees of TFS are enthusiastic professionals dedicated to create and maintain very satisfactory relations with clients and to fulfill an ambitious program of growth. The evolution of the pharmaceutical outsourcing market requires a large critical mass to access global clinical trials. At the same time it is fundamental to keep local expertise at a high level. Through a couple of years collaboration we found a common cultural approach and all the above shared premises became the best basis to take a step forward into the full integration, being TFS the best possible choice for a future common growth.”
The acquisition will have a full year 2013 revenue impact on $3.8 million, which is an increase of 8-9% to the estimated budget, and will further strengthen the TFS South European capabilities. The terms and conditions of the acquisition are not disclosed.
"The timing of the investment is ideal, our biotech—and midsized pharma customers' need for experienced oncology sites is growing and the Italian University Hospitals are well known worldwide in this therapeutic area,” said Dr. Montse Barceló, executive European vice president, TFS. “The late stage trial phases, increasingly being asked for by our customers, requires a presence on the Italian market for successful pre- and post-launches. With the Dimensione acquisition, we have gained a highly experienced project management team and a local regulatory group.”
