Deloitte Acquires CIS to Expand Compliance and Risk Services for Life Sciences and Health Care Industry

Acquisition complements Deloitte Advisory's industry-leading risk and financial advisory practice

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Jul 13, 2015, 09:11 ET

NEW YORK, July 13, 2015 /PRNewswire/ -- As the regulatory landscape continues to shift and grow in complexity, Deloitte today announced the acquisition of substantially all of the assets of Compliance Implementation Services (CIS), a leading 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".

As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

"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.

About Deloitte Advisory
Deloitte Advisory helps organizations turn critical and complex business issues into opportunities for growth, resilience and long-term advantage. Our market-leading teams help our clients manage strategic, financial, operational, technological, and regulatory risk to maximize enterprise value, while our experience in mergers and acquisitions, fraud, litigation, and reorganizations helps clients move forward with confidence.

Deloitte Advisory's dedicated life science and health care industry professionals guide traditional health care and life science companies and new market entrants in navigating the complexities of the US and global health care system. www.deloitte.com.

As used in this document, "Deloitte" and "Deloitte Advisory" means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services; and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. These entities are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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SOURCE Deloitte