Fortrea To Acquire Early Phase Services Business From Worldwide In Deal Valued At Approx. $45 Mln

India, Sept. 2 -- Fortrea (FTRE) and Worldwide Clinical Trials announced that they have signed a definitive agreement under which Fortrea will acquire Worldwide's Early Phase Services division, consisting of its Clinical Pharmacology Unit and Bioanalytical Laboratory operations. Fortrea will acquire the Early Phase Services business in an all-cash transaction valued at approximately $45 million.

Worldwide will continue to support existing and future Phase I studies through its clinical development capabilities. Once the transaction is complete, Early Phase Services will become part of Fortrea's Clinical Pharmacology Services business unit.

In pre-market trading on NasdaqGS, Fortrea shares are up 1.02 percent to $17.90.

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