Ratos's subsidiary TFS is strengthening its market position in Germany through the acquisition of German dermatology specialist SCIderm GmbH, an industry leader in scientific- and medical consulting and trial execution of dermatology studies.
TFS, an international service provider, a so-called clinical Contract Research Organisation (CRO), which conducts clinical trials for pharmaceutical, biotechnology and medical device companies, is strengthening its market position in Germany through the acquisition of SCIderm. The acquisition enables TFS, who have held a strategic partnership with SCIderm since 2014, to fully leverage on the growing industry demands in dermatology research and integrate SCIderm to its newly established dermatology service division. The combined companies will have approximately 100 employees in Germany and will operate from offices in Hamburg and Munich. SCIderm's service sales for 2015 amounted to approximately EUR 3,5m.
"TFS acquisition of SCIderm will significantly increase our presence in Germany, a market in which we see a strong potential going forward and where we would look to expand our operations further. SCIderm's unique dermatology expertise, access to patients and scientific approach to clinical programs will leverage on TFS global capabilities and strong executional infrastructure in conducting global pre- and post-approval trials. There is a distinct consolidation trend in the industry, the acquisition of SCIderm being a proof of that and a part of our growth strategy," says Dr. Montse Barceló, COO at TFS.
The acquisition is subject to approval by the relevant authorities and is expected to be completed during the fourth quarter.
Ratos invested in TFS in 2015 with a holding of 60%. TFS has approximately 700 employees and reported service sales of EUR 52,9m and EBITDA EUR 5,1m in 2015.
For further information, please contact:
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Dr. Montse Barceló, COO at TFS, +34 647 409 222