TFS buys Appletree CI with an eye on ophthalmology trials market
Sweden’s TFS HealthScience has bought Appletree CI Group to expand its ophthalmology offering and geographical reach.
The acquisition – financial terms of which were not disclosed – was prompted, in part, by Appletree’s capabilities in ophthalmology, dermatology, medical devices and pediatric clinical studies.
TFS CEO Bassem Saleh said, “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.”
Demand for eye drug clinical trials looks to be on an upward trajectory, all puns intended.
According to a recent study there has been a 203% increase in funding for ophthalmology research from 2014 to 2020. Additionally, the worldwide ophthalmology drug market is expected to reach $60.3 billion by 2028, an increase of 6.4% from 2021 figures.
TFS framed the deal as part of its effort to be a “market leader” in ophthalmology research.
The firm said,” In a targeted business shift toward ophthalmology expertise, the company launched its elite site network initiative and site liaison services, which will shift the industry’s approach to ophthalmology clinical trial delivery.”
Reach
Beyond ophthalmology, Saleh also cited market reach as a motivation for the deal, commenting, “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 UK.”
The comments about regional expansion suggest TFS plans to continue the strategy that saw it set up an office in the UK and establish a new headquarters in Research Triangle Park, North Carolina in the US last year.
Saleh also hinted Appletree would not be TFS’ last takeover, explaining “This acquisition, and others in the pipeline, are a clear indicator of the growth and success of TFS.”
Further details were not provided.
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