Contract Research Organizations / Clinical Trial Management / Life Sciences Professional Services
Strategic Profile
With more than three decades of experience and insights, and a laser focus on customer needs, Fortrea has the breadth and depth to meet global needs, and the nimbleness to innovate at the speed of change. The company'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 strategically focuses on oncology, central nervous system, rare diseases, and cell and gene therapies.
Cyborg Score Rationale
Fortrea operates in a high-growth market (clinical trials and drug development) with strong structural tailwinds from increasing R&D spending in biopharma. The company has 30+ years of operational heritage and a diversified customer base. However, exposure to cyclical pharma R&D spending and ongoing integration post-spin-off present near-term headwinds.
Top Insights
Recently independent: Spun off from Labcorp in July 2023 with 19,000+ employees, giving the company enhanced operational agility and strategic focus
Diversified therapeutic expertise: Fortrea's solutions build on three decades of experience across more than 20 therapeutic areas
Scale and reach: In the five years ending in 2023, the company conducted more than 5,850 clinical trials involving over 1 million subjects
Strong Fortune 1000 standing: In 2025, Fortune 1000 listed Fortrea Holdings at No. 957 among top 1,000 U.S. companies by revenue, ranking 76th among Fortune 1000 U.S. healthcare companies
Named Competitors
Contract Research Organization Services — Largest global CRO offering clinical development and post-market services
Drug Development Services — Integrated preclinical and clinical development solutions provider
Clinical Development Services — CRO and commercial solutions provider focused on integrated services
Recent Developments
(June 2024) Sold Endpoint Clinical and Fortrea Patient Access businesses to Arsenal Capital Partners
(July 2023) Successfully completed spin-off from Labcorp and began independent public trading on NASDAQ
(2023) Incorporated as independent company and rebranded as Fortrea Holdings (formerly Labcorp Drug Development)
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