The Adecco Group Announces Acquisition of BioBridgesSeptember 14, 2017
The Adecco Group Announces Acquisition of BioBridges
The Adecco Group’s professional solutions portfolio embraces life sciences in the USA
Zurich, Switzerland, 14 September 2017: The Adecco Group, the world’s leading provider of workforce solutions, today announced the acquisition of BioBridges, a Career Portfolio® Management company providing integrated services to the life sciences community. The transaction strengthens the Adecco Group’s professional solutions footprint and establishes a US platform to enhance the company’s global life sciences presence.
Founded in 2005 and headquartered outside Boston, BioBridges is widely respected in the life sciences arena, managing the careers of highly skilled professionals who have extensive experience in the biotech, pharmaceutical and medical device industries. Servicing both emerging and established organizations, BioBridges acts as an integrated extension of its clients’ programmes, committed to accomplishing the work in a scalable and flexible manner that is specific to a programme’s goals and objectives. BioBridges’ revenues are expected to be approximately USD 35 million in 2017.
“With its excellent reputation and proven results, BioBridges is deep-rooted in the life sciences space,” said David Alexander, president of the Adecco Group’s North America Finance, Office and Healthcare businesses. “We are excited to welcome BioBridges into the Adecco Group family. Together we will offer highly specialized workforce solutions to an industry that truly has the potential to change the world.”
BioBridges will be brought under Alexander’s leadership of the Adecco Group’s North America Finance, Office and Healthcare brands. Jason Falchuk, founding partner and president of BioBridges, will remain in his current role following the acquisition. Jeff Souza, currently CEO of BioBridges, will take on the new role of Senior Vice President of Client Services. Cindy Steinberg, founding partner, will continue as a consultant to the company through the transition. BioBridges will maintain its established branding and headquarters location.
“There’s a very clear and growing demand for experienced professionals in the life sciences community, and likewise, an increased movement for professionals to define a career focused on accomplishing the work they are passionate about,” said Falchuk. “As a part of the Adecco Group, BioBridges will have access to global resources that will allow us to innovate and progress alongside the exceptional businesses and professionals that inspire us to come to work every day.”
Terms of the transaction have not been disclosed.