Fortrea Rampungkan Akuisisi Divisi Early Phase Services dari Worldwide Clinical Trials

(NASDAQ:FTRE) Fortrea announced the completion of its acquisition of the Early Phase Services division from Worldwide Clinical Trials. The acquired division includes Clinical Research Unit (CRU) operations and a Bioanalytical Laboratory, purchased for approximately $45 million in an all-cash transaction. The acquisition adds a 200-bed GCP-compliant CRU in San Antonio, Texas, a 60,000-square-foot GLP-compliant bioanalytical laboratory in Austin, Texas, and a biological specimen storage facility in Pflugerville, Texas. These assets expand Fortrea’s early phase study capacity to more than 570 beds globally and enhance its internal bioanalytical capabilities for both large and small molecules. The expanded platform enables Fortrea to support clients from first-in-human studies through proof-of-concept and later-stage development. Anshul Thakral, CEO of Fortrea, stated that the acquisition strengthens the company’s integrated and scalable clinical development platform and demonstrates progress in Fortrea’s growth strategy through investment in capabilities. The combined clinical pharmacology and bioanalytical capabilities are expected to increase speed, flexibility, and expertise for clients advancing complex development programs. Scott Dove, Ph.D., president of Clinical Pharmacology Services at Fortrea, noted that the investment adds capabilities and capacity to help clients design and execute early development programs more quickly and with greater scientific rigor. The new capabilities complement Fortrea’s existing Clinical Pharmacology Services business and expand its CRU network in North America. The combined platform is designed to reduce operational handoffs between clinical and bioanalytical functions and accelerate timelines. Fortrea and Worldwide Clinical Trials have also entered into agreements to ensure continuity for clients, employees, and ongoing programs. The acquired Early Phase Services division now operates as part of Fortrea’s Clinical Pharmacology Services business unit. Barclays acted as financial advisor to Fortrea, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel.

Fortrea Melengkapkan Pemerolehan Bahagian Early Phase Services daripada Worldwide Clinical Trials

(NASDAQ:FTRE) Fortrea announced the completion of its acquisition of the Early Phase Services business from Worldwide Clinical Trials. Fortrea spent approximately $45 million in an all-cash transaction to acquire the business, which includes the operations of a Clinical Research Unit (CRU) and a Bioanalytical Laboratory. The acquisition adds a 200-bed GCP-compliant CRU in San Antonio, Texas, a 60,000 square foot GLP-compliant bioanalytical laboratory in Austin, Texas, and a biospecimen storage facility in Pflugerville, Texas to Fortrea's platform. These assets increase Fortrea's global early phase clinical development capacity to more than 570 beds and expand its internal bioanalytical capabilities for both large and small molecules, supporting clients from first-in-human studies through proof-of-concept and advanced development. Anshul Thakral, Chief Executive Officer of Fortrea, stated that the completion of the acquisition strengthens Fortrea's integrated and scalable clinical development platform and demonstrates progress in the company's efforts to return to growth. Scott Dove, Ph.D., President, Clinical Pharmacology Services at Fortrea, commented that the investment enhances the company's ability to support both simple and complex studies and deliver high-quality data. The acquisition complements Fortrea's existing Clinical Pharmacology Services business and expands its CRU operational footprint in North America. The combined platform is designed to reduce operational handoffs between clinical and bioanalytical functions, accelerate processing times, and provide clients with greater flexibility for complex studies involving more participants. The platform also broadens access to diverse volunteer pools and increases bed capacity across Fortrea's early development network. Fortrea and Worldwide Clinical Trials have entered into several agreements to ensure continuity for clients, staff, and ongoing programs. The acquired Early Phase Services operations are now integrated into Fortrea's Clinical Pharmacology Services business unit. Barclays acted as financial advisor to Fortrea, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel.

Fortrea Completes Acquisition of the Early Phase Services Division from Worldwide Clinical Trials

(NASDAQ:FTRE) Fortrea announced it has completed the acquisition of the Early Phase Services division from Worldwide Clinical Trials in an all-cash transaction valued at approximately $45 million. The acquired division includes a 200-bed Good Clinical Practice-compliant Clinical Research Unit (CRU) in San Antonio, Texas, a 60,000-square-foot Good Laboratory Practice-compliant bioanalytical laboratory in Austin, Texas, and a biospecimen storage facility in Pflugerville, Texas. With these additions, Fortrea expands its early-phase capacity to more than 570 beds globally and gains in-house large and small molecule bioanalytical capabilities. The acquisition is intended to strengthen Fortrea’s end-to-end clinical development platform, supporting clients from first-in-human studies through proof-of-concept and later-stage development. Anshul Thakral, CEO of Fortrea, stated that the transaction demonstrates progress in Fortrea’s return to growth and enhances its ability to win new opportunities and create lasting value for clients. Thakral also noted that the integration of complementary clinical pharmacology and bioanalytical capabilities is expected to expand the speed, flexibility, and talent offered to clients. Scott Dove, Ph.D., president, Clinical Pharmacology Services at Fortrea, commented that the investment adds capability and capacity to help clients design and execute early development programs with greater speed, scientific rigor, and operational connectivity. The addition of dedicated bioanalytical capabilities and expanded CRU capacity is intended to support both simple and complex studies, streamline execution, and generate high-quality data. The acquisition broadens Fortrea’s North American CRU footprint and is designed to reduce operational handoffs, improve turnaround times, and provide greater flexibility for complex and larger participant studies. Fortrea and Worldwide Clinical Trials have also entered into agreements to support continuity for clients, employees, and ongoing programs. The acquired Early Phase Services operations are now part of Fortrea’s Clinical Pharmacology Services business unit. Barclays served as financial advisor to Fortrea, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as its legal counsel.