TFS Acquires US Oncology and Vaccine Specialist Beardsworth Consulting Group, Inc.

On April 26^th, 2013, TFS International (TFS) has completed the acquisition of the New Jersey based Oncology and Vaccine specialist Contract Research Organization (CRO), Beardsworth Consulting Group, Inc. (BCG).

In a move to expand its oncology and vaccine research services, TFS has announced the completion of acquiring BCG, an independent clinical CRO with headquarters in Flemington, New Jersey, and with clinical research professionals located throughout North America. BCG was established by Ms. Donna Beardsworth in 1986 and, through her commitment to clinical research and entrepreneurship, BCG became a recognized and trusted industry leader in the execution of complex clinical trials within oncology, vaccines, and other important therapeutic areas.

The acquisition of BCG follows the TFS global strategy to grow its North American operations to 600 professionals with comparable capabilities and expertise to its existing European business. The BCG acquisition will complement TFS’ competences in oncology and vaccines, among several others therapeutics areas, as well as provide scalable operational resources throughout North America. BCG’s operations include comprehensive clinical research services together with project management and monitoring across all study phases, data management, biostatistics, regulatory consulting, and medical writing.

"The BCG deal is really a welcomed component in the strategic vision of TFS. It adds competencies in active and growing therapeutic areas, increases our operational capabilities in North America and expands substantially our customer portfolio of smaller and midsized life science companies in one of the most important global research markets. It aligns very well with where we want to be as a company," said Mr. Daniel Spasic, Chief Executive Officer at TFS.

TFS has recently completed several acquisitions and the BCG deal follows two other transactions in the last five months, including the acquisition of Dimensione Ricerca in Italy and the technology provider for Electronic Data Capture (EDC) services, Semcon in Sweden.

"We are very pleased to have found a global partner through the TFS Group. TFS and BCG share a common culture of quality and professional service of the highest caliber. As a combined operation, we now have significant resources deployed across multiple continents. It is rewarding to know that our global capabilities will now provide considerable value to our clients, and the patients that we ultimately serve. I have the highest confidence that the combined TFS/BCG team will create true synergies and material benefit to the biopharmaceutical industry, under the TFS name" said Mr. Doug Beardsworth, Executive Chairman at BCG.

TFS and BCG have had a history of collaboration on several global clinical programs in oncology and other therapeutic areas. Operational processes and quality systems have been well established which will facilitate an efficient integration between the two groups as well as ensuring business continuity and focus on the ongoing clinical projects and customers.

"Mr. Hani Zaki will be taking the helm for the TFS US organization as the Executive VP and President Americas. He is a seasoned and trusted pharmaceutical and CRO executive who has spent many years working for public and private CROs, and is a well-respected professional within the life science community," said Mr. Spasic.

The terms and conditions of the acquisition have not been disclosed.

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