TFS Healthscience has set up a base in Melbourne, Australia to target growing demand for trial services in the Asia Pacific (APAC) region.
The Lund, Sweden-based contract research organization (CRO) announced the new unit this month, explaining it would allow it to expand its trial site network. Prior to the opening, the firm’s activities were conducted through consultants and partners in the region.
CEO Bassem Saleh described Australia as an ideal base for TFS, commenting "As we extend our footprint into the APAC region, Australia emerges as a strategic focal point for establishing operations in all our business units, including Ophthalmology, Dermatology, Neurology, Oncology, and Strategic Resourcing.
“Australia's expanding market aligns perfectly with our vision for growth and innovation. This expansion enables us to better integrate into the APAC region and strengthens our commitment to delivering unparalleled clinical research solutions to our global network" he said.
TFS also said it has plans for further growth into other “countries in the APAC region, complementing existing partnerships to cater to customer needs globally.”
Global reach
Expansion into the APAC market fits with a wider global growth strategy TFS has followed over the past couple of years. Last March, for example, the CRO expanded its operations in Israel in a deal with local contractor, GCP Clinical Studies (GCP).
And a few months prior, TFS acquired fellow CRO Appletree CI Group. The primary driver for the takeover was designed to add capabilities in ophthalmology, dermatology, medical devices, and pediatric clinical studies.
However, at the time TFS also said Appletree would help it establish a presence in Switzerland and additional presence in Poland, Belgium, Hungary, and the UK.
And in 2022 TFS set up an operational office in the UK and established a new operation in Research Triangle Park, North Carolina in the US.
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