Fortrea to Acquire Early Phase Services from Worldwide Clinical Trials in $45M Deal
核心洞察
Fortrea (搜索) signed a definitive agreement to acquire Worldwide Clinical Trials (搜索)' Early Phase Services division, including its Clinical Pharmacology Unit and Bioanalytical Laboratory operations, in an all-cash transaction valued at approximately $45 million.
The acquisition adds a 60,000 sq. ft. GLP-compliant bioanalytical laboratory in Austin, a 200-bed GCP-compliant clinical pharmacology unit in San Antonio, and a biospecimen storage facility in Pflugerville to Fortrea (搜索)'s early development network.
The combined platform strengthens Fortrea (搜索)'s end-to-end clinical development offering, supporting customers from first-in-human studies through Phase IV and post-approval evidence generation.
Fortrea (搜索) Holdings Inc. (Nasdaq: FTRE) has signed a definitive agreement to acquire the Early Phase Services division of Worldwide Clinical Trials (搜索), including its Clinical Pharmacology Unit and Bioanalytical Laboratory operations, in an all-cash transaction valued at approximately $45 million. The acquisition is expected to close pending approval of necessary regulatory and license requirements, as well as the parties entering into certain services agreements.
The deal complements Fortrea (搜索)'s Clinical Pharmacology Services business and existing early phase capabilities by adding in-house large and small molecule bioanalytical capabilities and expanding its North American clinical research unit footprint. The addition of dedicated bioanalytical capabilities will enable Fortrea to improve turnaround times and deliver both simple and complex, integrated clinical development solutions.
Expanded Early Development Infrastructure
The Early Phase Services business consists of a 60,000 sq. ft. GLP-compliant bioanalytical laboratory in Austin, Texas, a 200-bed GCP-compliant clinical pharmacology unit in San Antonio, and a biospecimen storage facility in Pflugerville. These facilities enable integrated execution of early-phase studies with both large and small molecule bioanalytical capabilities, reducing operational handoffs and providing customers with a streamlined path from first-in-human through proof-of-concept studies.
The combined platform will offer customers greater flexibility for complex and larger participant studies, broader access to distinct volunteer populations, and expanded bedspace capacity across Fortrea (搜索)'s early development network.
Strategic Rationale
"Fortrea (搜索) is making an important investment in early clinical development as part of our end-to-end clinical development platform supporting customers from first-in-human studies through Phase IV and post-approval evidence generation. We believe this acquisition strengthens our ability to create long-term value for shareholders while expanding the capabilities and capacity we provide to customers, volunteers and the patients we ultimately serve," said Anshul Thakral, CEO of Fortrea.
Thakral added that bringing together complementary bioanalytical and clinical research offerings will enable a more seamless development experience for customers, broaden scientific and operational capabilities, and support studies of greater scale, complexity, and scientific sophistication across a wider range of therapeutic needs.
Worldwide's Strategic Refocus
The agreement enables Worldwide Clinical Trials (搜索) to continue providing core healthy volunteer study capabilities globally through its external site network, while accelerating investment within its rapidly growing late-stage business.
"Worldwide has built a respected Early Phase business, supported by a strong team and a reputation for scientific and operational excellence," said Alistair Macdonald, CEO of Worldwide. "This transaction allows us to focus our investments and support on our rapidly growing late-stage business across the oncology, neuroscience, internal medicine, and rare disease therapeutic areas."
Worldwide Clinical Trials (搜索) is a global CRO serving development-driven biopharmaceutical companies, with more than 4,500 full-time professionals operating across more than 70 countries.
Transition and Continuity
Fortrea (搜索) and Worldwide intend to enter into a series of agreements to support continuity for customers, employees, and ongoing programs. These agreements are intended to maintain project momentum, preserve specialized capabilities, and provide a seamless customer experience during and after the transition. Once the transaction is complete, Early Phase Services will become part of Fortrea's Clinical Pharmacology Services business unit.
Barclays is serving as financial advisor to Fortrea (搜索), with Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. as legal counsel. BroadOak Partners is serving as Worldwide's financial advisor, and Greenberg Traurig, LLP is serving as its legal counsel.