Fortrea Will Become a Leading, Pure-play CRO Focused on Driving Innovation and Improving Patient Outcomes Worldwide
Spin-off Remains on Track to Be Completed in Mid-2023
LabCorp (NYSE: LH), a leading global life sciences company, today announced that the new company to be formed by the planned spin-off of its Clinical Development business will be known as Fortrea. Upon completion of the spin-off from Labcorp, Fortrea will operate as an independent, publicly traded global CRO that offers comprehensive drug and medical device development services. With over 19,000 people, Fortrea will provide Phase I through IV clinical trial management and commercialization solutions to pharmaceutical and biotechnology organizations around the world.
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