Fortrea Holdings Inc.

Fortrea and Omico Collaboration to Advance Biomarker-led Oncology Drug Development

Fortrea announced a collaboration with Omico, Australia's leading precision oncology screening organization, to connect cancer patients with biomarker-matched clinical trials. The partnership pairs Fortrea's oncology trial experience with Omico's PrOSPeCT program, Australia's largest cancer genomics initiative, which has more than 23,000 consented patients and referrals from over 1,600 clinicians. Omico will provide Fortrea's clients genomic profiling, trial-matching and patient referral pathways in Australia to improve site selection and recruitment speed. No financial terms were disclosed.

•12d ago

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

Fortrea completed its acquisition of the Early Phase Services division from Worldwide Clinical Trials in an all-cash transaction valued at approximately $45 million. The deal adds a 200-bed GCP-compliant clinical research unit in San Antonio, a 60,000-square-foot GLP-compliant bioanalytical lab in Austin, and a biospecimen storage facility in Pflugerville, expanding Fortrea's early-phase capacity to more than 570 beds globally. Management framed the closing as tangible progress in Fortrea's return to growth, adding in-house large and small molecule bioanalytical capabilities and reducing operational handoffs for early-phase studies. A strategic alliance agreement with Worldwide Clinical Trials supports continuity for clients and ongoing programs during the transition.

•15d ago

Fortrea to Acquire Clinical Pharmacology Unit and Bioanalytical Laboratory Operations from Worldwide Clinical Trials

Fortrea has signed a definitive agreement to acquire the Early Phase Services division of Worldwide Clinical Trials in an all-cash transaction valued at approximately $45M. The acquired business includes a 60,000 sq. ft. GLP-compliant bioanalytical lab in Austin, a 200-bed GCP-compliant clinical pharmacology unit in San Antonio, and a biospecimen storage facility in Pflugerville, Texas. The deal adds in-house large- and small-molecule bioanalytical capabilities and expands Fortrea's North American clinical research unit footprint, with the assets folding into its Clinical Pharmacology Services business unit at close. Closing is contingent on regulatory and license approvals, with Barclays advising Fortrea, BroadOak Partners advising Worldwide, and a strategic alliance agreement intended to preserve continuity for customers during the transition.

•2mo ago

Fortrea Reports Second Quarter 2026 Results

Fortrea reported Q2 revenue of $678.2 million with Adjusted EPS of $0.23, up from $0.19 in the prior year, despite a decline in total revenue compared to the same period in 2025. The company generated $19.9 million in free cash flow and maintained a book-to-bill ratio of 1.06x for the quarter, supported by a total backlog of $7.8 billion. Management raised full-year 2026 guidance, now targeting revenue of $2.62 billion to $2.69 billion and Adjusted EBITDA of $205 million to $220 million.

•3mo ago

Fortrea Names Jason Knoblauch as Chief Financial Officer

Fortrea appointed Jason Knoblauch as chief financial officer, effective July 6, 2026, succeeding Jill McConnell who is stepping down after helping the company become an independent CRO. The company simultaneously reiterated its full-year 2026 guidance, targeting revenue of $2.55 billion to $2.65 billion and adjusted EBITDA of $190 million to $220 million. Knoblauch joins from Clario and previously served as CFO at Curia, bringing significant experience in the clinical trials landscape.

•4mo ago

Fortrea Reports First Quarter 2026 Results

Fortrea reported Q1 2026 revenue of $636.5 million, down 2.3% year-over-year, but delivered strong operational improvement with adjusted EBITDA jumping 55% to $47.0 million and adjusted net income of $15.2 million ($0.16 EPS). The company posted a book-to-bill ratio of 1.15x for the third consecutive quarter above 1.1x, bringing trailing 12-month book-to-bill to 1.05x and backlog to $7.85 billion. Full-year 2026 guidance was reaffirmed, targeting revenue of $2.55B-$2.65B and adjusted EBITDA of $190M-$220M.

•5mo ago