Deloitte has acquired substantially all of the assets of Compliance Implementation Services, a life sciences compliance consulting firm. CIS will join Deloitte Advisory, the market-leading risk and financial advisory practice, as part of its regulatory compliance market offering. Effective immediately, the business will operate as "CIS by Deloitte."
"The companies we serve are facing a rapid pace of regulatory change. These clients know the potential impact that non-compliance can have on their brand and reputation and, ultimately, their business," said Owen Ryan, chief executive officer of Deloitte Advisory. "The addition of CIS to Deloitte enables us to empower clients in the life sciences and health care industry with innovative managed solutions and top-quality advisory services to help them navigate these changes successfully."
"CIS's commitment to monitoring industry regulations in support of clients mirrors Deloitte's commitment to the same," said Mel Walker, chief executive officer at CIS. "Together with Deloitte, we will be able to broaden our global reach, and offer more impactful services in compliance and risk management."
Life Sciences, in particular, is one of the most heavily regulated industries requiring companies to draw on specialized compliance and regulatory expertise in addition to maintaining reliable processes and systems to manage compliance operations. The industry is facing growing complexity from a broad and expanding set of laws, regulations, and industry codes to which companies must comply. Non-compliance poses significant risks including disruption of sales, fines, penalties and reputational damage.
"We are focused on delivering value to our clients. CIS's suite of services enables clients to achieve compliance while staying laser-focused on their businesses," said Jennifer Malatesta, principal, Deloitte Advisory's life sciences sector leader. "We are thrilled to introduce CIS by Deloitte and will continue to foster innovative approaches to managing our clients' ever-growing regulatory challenges."
CIS by Deloitte will continue to help life sciences clients manage risks by aligning business processes and controls to regulatory and compliance requirements and reduce costs through end-to-end solution sets to help address their compliance needs.
