Fortrea Holdings has agreed to acquire the Early Phase Services division of Worldwide Clinical Trials in an all-cash transaction valued at about $45 million, adding a Texas clinical pharmacology unit, bioanalytical laboratory and biospecimen storage operation to its early-development network.
The transaction, which remains subject to regulatory and license approvals as well as certain services agreements between the companies, would place Worldwide’s Early Phase business within Fortrea’s Clinical Pharmacology Services unit. The companies did not disclose an expected closing date.
Worldwide’s business includes a 60,000-square-foot Good Laboratory Practice-compliant bioanalytical laboratory in Austin, a 200-bed Good Clinical Practice-compliant clinical pharmacology unit in San Antonio and a biospecimen storage facility in Pflugerville.
Fortrea said the acquisition will add in-house capabilities for bioanalysis of large and small molecules, complementing its existing clinical pharmacology services and expanding its North American clinical-research-unit footprint. The combined capabilities are intended to support studies from first-in-human work through proof-of-concept research, while reducing operational handoffs between clinical and bioanalytical functions.
The buyer said the added laboratory capacity could improve turnaround times for analytical testing and give sponsors greater flexibility in managing complex studies, including trials requiring larger participant populations or specialized volunteer groups. Fortrea also said the acquisition supports its broader clinical-development platform, which spans Phase I through Phase IV studies and post-approval evidence generation.
Worldwide will retain its broader clinical-development operations and continue to provide healthy-volunteer study services globally through its external site network. The company said selling the unit will allow it to focus investment on its late-stage business, including oncology, neuroscience, internal medicine and rare-disease programs, as well as technology and geographic expansion.
The companies plan to enter into additional agreements to maintain continuity for customers, employees and active programs during and after the transition. Those arrangements are intended to preserve project delivery and specialized services while the business changes ownership.
Fortrea Chief Executive Anshul Thakral said the acquisition will combine complementary clinical-research and bioanalytical functions to offer a more integrated early-development service. Worldwide Chief Executive Alistair Macdonald said the transaction will support the company’s strategy to concentrate resources on its late-stage clinical-development business.