Fortrea Holdings Inc. officially commenced operations as a standalone entity on June 30, 2023, following its spin-off from Labcorp Holdings Inc. This strategic separation positions Fortrea as a leading global contract research organization (CRO) focused on comprehensive biopharmaceutical and medical device development solutions.
The company, building on over 30 years of experience, specializes in Phase I through IV clinical trials, offering services through various flexible models. This independence allows Fortrea to concentrate on its core clinical development services and pursue its own distinct growth strategies in the dynamic CRO industry.
The spin-off is a significant milestone, establishing Fortrea's independent market presence and setting the stage for its future financial and operational trajectory. The company aims to leverage its agility and scientific expertise to meet the evolving needs of both large pharmaceutical companies and the biotech sector.
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