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Fortrea Launches as a Leading Contract Research Organization

Fortrea, a global contract research organization (CRO), has completed its spin-off from Labcorp and is now trading on the Nasdaq stock exchange under the ticker "FTRE." The company is positioned to capitalize on growth opportunities in phases I-IV clinical trials and patient access, and to extend its leading positions in oncology, clinical pharmacology, and partnership models. Fortrea's Mission and Focus Fortrea's purpose is to partner with customers to bring life-changing therapies to patients faster. As an independent public company, Fortrea has increased operational agility and financial flexibility, making it the ideal size to deliver on its mission. With a global scale, access to clinical data-driven insights, site relationships, and decades of experience, Fortrea is able to bring customers tailored solutions as a trusted partner. Fortrea's business is designed to address customers' holistic needs across two reporting segments: Clinical Services and Enabling Services. Its Clinical Services segment provides phase I-IV clinical solutions, including clinical pharmacology and comprehensive clinical development capabilities, that are tailored to customer needs. Its Enabling Services segment provides technology-enabled solutions and post-approval patient access services. Fortrea's Leadership Team Fortrea launches with a team of approximately 19,000 people supporting customers in more than 90 countries across more than 20 different therapeutic areas. The company's proven leadership team and talented colleagues across the globe have the skills and experience to help build a world-class culture of excellence. Fortrea's Board of Directors Fortrea has appointed six independent directors to its Board of Directors. The Board will play an important role as Fortrea implements its long-term strategy and realizes the full potential of its opportunity in the market. Fortrea's Separation from Labcorp In connection with the separation, effective at 11:59 p.m. ET on Friday, June 30, 2023, Labcorp shareholders were distributed one share of Fortrea common stock for every share of Labcorp common stock held as of 5:00 p.m. ET on Tuesday, June 20, 2023, the record date. Approximately 88.8 million shares of Fortrea common stock were distributed. Fortrea's Customer Base Fortrea has a robust customer base across pharmaceutical, biotechnology, and medical device organizations. Its business is specifically designed to address customers' holistic needs across two reporting segments: Clinical Services and Enabling Services. Fortrea's Clinical Services Segment Fortrea's Clinical Services segment provides phase I-IV clinical solutions, including clinical pharmacology and comprehensive clinical development capabilities, that are tailored to customer needs. The company's solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights, and a strong investigator site network. Fortrea's Enabling Services Segment Fortrea's Enabling Services segment provides technology-enabled solutions and post-approval patient access services. The company partners with emerging and large biopharmaceutical, medical device, and diagnostic companies to drive healthcare innovation that accelerates life-changing therapies to patients in need. Fortrea's Global Scale Fortrea's talented and diverse team of more than 19,000 people working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally. The company has access to clinical data-driven insights, site relationships, and decades of experience, making it a trusted partner for customers. Fortrea's Tailored Solutions Fortrea is able to bring customers tailored solutions as a trusted partner. The company's solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights, and a strong investigator site network. Fortrea's Future As an independent public company, Fortrea is positioned to capitalize on growth opportunities in phases I-IV clinical trials and patient access. The company's leadership team and talented colleagues across the globe have the skills and experience to help build a world-class culture of excellence, and the Board of Directors will play an important role as Fortrea implements its long-term strategy and realizes the full potential of its opportunity in the market. Conclusion Fortrea, a leading global CRO, has successfully completed its spin-off from Labcorp and is now trading on the Nasdaq stock exchange under the ticker "FTRE." The company is positioned to capitalize on growth opportunities in phases I-IV clinical trials and patient access, and to extend its leading positions in oncology, clinical pharmacology, and partnership models. With a talented and diverse team of more than 19,000 people working in more than 90 countries, Fortrea is scaled to deliver focused and agile solutions to customers globally. The company's tailored solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights, and a strong investigator site network.


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