From Financialpost · · 1m 10s
Fortrea Acquires Worldwide Clinical Trials Division
Fortrea completes $45m acquisition of Worldwide Clinical Trials' early phase services to boost clinical research capacity.
In brief
Fortrea completes $45m acquisition of Worldwide Clinical Trials' early phase services to boost clinical research capacity. Fortrea acquired Worldwide Clinical Trials' early phase services division for $45 million, expanding its global clinical development capacity to over 570 beds and adding bioanalytical…
Fortrea completes acquisition
Fortrea completed acquisition of Worldwide Clinical Trials' early phase services division for $45 million in an all-cash transaction.
Adds Texas facilities
Adds 60,000-square-foot GLP-compliant lab in Austin, Texas; 200-bed GCP-compliant unit in San Antonio, Texas; and biospecimen storage in Pflugerville, Texas.
Expands global capacity
Expands early clinical development capacity to more than 570 beds globally and adds dedicated large and small molecule bioanalytical capabilities.
Enhances platform integration
Reduces operational handoffs between clinical and bioanalytical functions to improve study execution and data quality.
Strengthened platform
Strengthens end-to-end clinical development platform supporting clients from first-in-human studies through Phase IV and post-approval evidence generation.
Continuity agreements
Entered strategic alliance agreement to support continuity of operations, study delivery and client support during transition.
In short
Fortrea acquired Worldwide Clinical Trials' early phase services division for $45 million, expanding its global clinical development capacity to over 570 beds and adding bioanalytical capabilities.
