TFS International acquires all shares of DIMENSIONE RICERCA
On November 30th, 2012 TFS International (TFS) has signed an agreement to acquire DIMENSIONE RICERCA (DR), an independent clinical contract research organization (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. DR is a privately held company owned by Dr. Stefano Marini 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.
DR 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 and has throughout the years become one of the Italian market leaders. 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" says Mr. Ricard Quingles, Regional Managing Director, South Europe at TFS.
After the acquisition Dr. Stefano Marini, will oversee operations in Italy. Dr. Marini is an MD, President of EUCROF (European CRO Federation). His specialties are psychiatry and endocrinology, and he has nearly three decades of experience in pharmaceutical industry research, mainly managing clinical trials. Dr. Marini has also spent more than six years at the University of Rome as an investigator, where he gained experience with clinical trials in neuropsychiatry and endocrinology. He was with Janssen Italy for over eight years, where he was responsible for CNS R&D. He is also the author of more than 95 scientific articles, and author or co-author of over 170 clinical and pharmacotoxicological expert reports for marketing authorizations.
"TFS is a relatively young company, fresh, dynamic and full of positive energy. 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" says Dr. Marini owner of DR.
The acquisition will have a full year 2013 revenue impact on €3 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. 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" says Dr. Montse Barceló, Executive European VP at TFS.