Contract research organization TFS HealthScience announced it has acquired Appletree CI Group, a CRO and global regulatory affairs service provider. The terms of the deal were not disclosed.
The deal expands the global reach for clients while enhancing TFS HealthScience's footprint in the disciplines of pediatric research, medical devices, dermatology, and ophthalmology.
"We are proud to partner with Appletree as we continue to provide our clients with in-depth, comprehensive knowledge and therapeutic expertise, particularly in the field of ophthalmology," said CEO of TFS HealthScience, Bassem Saleh. "This acquisition, and others in the pipeline, are a clear indicator of the growth and success of TFS. The partnership with Appletree will have a measurable impact on better treatments for patients and company growth, establishing a new presence in Switzerland and additional presence in Poland, Belgium, Hungary, and the U.K."
TFS HealthScience said in a news release that acquiring Appletree will support its goal of becoming the market leader in ophthalmic research.
"Today is a significant milestone for our company as we finalize our first acquisition in Ophthalmology, establishing clear leadership in a niche industry where expertise is highly valued, as clinical trials and strategy for ophthalmology indications are held to specific rules and regulations," said VP of TFS HealthScience's Ophthalmology Business Unit, Marcia Swank.
The two businesses will now provide customers with complementary and extended service options, including a specialized ophthalmology therapeutic emphasis with a larger global reach.
Appletree CI Group was founded in 2013 following the merger of Clinical Investigations and Appletree AG.