{"id":114500,"date":"2024-06-04T13:03:28","date_gmt":"2024-06-04T11:03:28","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=114500"},"modified":"2024-06-06T17:42:30","modified_gmt":"2024-06-06T15:42:30","slug":"fortrea-completes-divestiture-of-endpoint-clinical-and-patient-access","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/fortrea-completes-divestiture-of-endpoint-clinical-and-patient-access\/","title":{"rendered":"Fortrea Completes Divestiture of Endpoint Clinical and Patient Access Businesses to Arsenal Capital Partners"},"content":{"rendered":"
\n

Statement issued by the company (Announcement) <\/span><\/p>\n

Fortrea<\/u> <\/strong>a leading global contract research organization (\u201cCRO\u201d), today announced it has completed the divestiture of assets relating to its Enabling Services segment, namely its Endpoint Clinical (\u201cEndpoint\u201d) and Fortrea Patient Access (\u201cFPA\u201d) businesses, to Arsenal Capital Partners (\u201cArsenal\u201d), a leading private equity firm specializing in building market-leading, technology-rich healthcare and industrial growth companies.<\/p>\n

Endpoint and FPA provide best-in-class<\/strong> Randomization and Trial Supply Management (RTSM) and patient access solutions respectively. They both represent strategically differentiated entry points within the pharmaceutical services value chain, where Arsenal holds significant domain, scientific and technical knowledge.<\/p>\n

Arsenal has appointed<\/strong> Sam Osman, former president of Fortrea\u2019s Enabling Services segment, to serve as chief executive officer of the new entities, and Raymond (\u201cRay\u201d) H. Hill, an operating partner within Arsenal\u2019s healthcare team, will serve as chairman of the board.<\/p>\n

\u201cEndpoint and FPA are distinctly positioned to support the patient journey across clinical trials and through access to novel therapeutics after approval,\u201d said Sam Osman<\/strong>, chief executive officer of Endpoint and FPA. <\/strong><\/p><\/blockquote>\n

\u201cWith Arsenal as our partner, I am confident that both our businesses and our teams will benefit from accelerated growth opportunities<\/strong> as well as investment and executive focus, resulting in enhanced capabilities and solutions for customers.\u201d<\/p>\n

\u201cThe successful closing of this transaction is a testament to the caliber of the teams involved, who have planned a smooth transition for colleagues, customers and the patients we serve,\u201d said Fortrea Chairman and CEO Tom Pike<\/strong>.<\/p><\/blockquote>\n

\u201cThis transaction enables both organizations to focus their leadership and resources on delivering optimal solutions for our customers. As previously disclosed, the net proceeds from this divestiture will be used to reduce a portion of Fortrea\u2019s overall debt structure. As a pure-play clinical CRO, Fortrea remains committed to our mission of delivering solutions that bring life-changing treatments to patients faster.\u201d<\/p>\n

Ray Hill<\/strong>, an operating partner of Arsenal and chairman of the board for Endpoint and FPA, said, \u201cI am incredibly excited to be a part of Endpoint and FPA\u2019s next chapter. I look forward to working with the management team in building a strategically important company that provides data-driven solutions for patients.\u201d<\/p>\n

Endpoint Clinical<\/strong><\/p>\n

Endpoint operates in the high growth eClinical<\/strong> market as a leading provider of Randomization and Trial Supply Management (RTSM) solutions to biopharmaceutical and CRO customers with expertise in serving complex and late-stage clinical trials.<\/p>\n

For more than 15 years, Endpoint<\/strong> has had a successful track record of effectively supporting more than 1,750 clinical trials involving 875,000 patients across 90 countries and has cultivated a blue-chip customer base and nurtured long-standing strategic relationships.<\/p>\n

Fortrea Patient Access<\/strong>
\nFortrea Patient Access is a scaled leader in the HUB services<\/strong> and patient access market, serving the biopharmaceutical industry with comprehensive patient support, product access, affordability and adherence solutions for more than 30 years.<\/p>\n

Further advanced by its recently expanded non-commercial specialty pharmacy, FortreaRx\u2122, to support enhanced distribution of cold-chain and ambient free goods products, Fortrea Patient Access is committed to driving patient outcomes and improving healthcare accessibility through its extensive experience while currently supporting more than 2.5 million patients and over 100 unique brands across more than 25 disease indications.<\/p>\n

About Arsenal Capital Partners<\/strong>
\nArsenal Capital Partners is a leading private equity investment firm that specializes in building market-leading industrial growth and healthcare companies.<\/p>\n

Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 300 platform and add-on acquisitions, and achieved more than 35 realizations.<\/p>\n

The firm works with management teams to build strategically important companies with leading market positions, high growth and high value-add.\u00a0 For more information, visit www.arsenalcapital.com.<\/a><\/p>\n

About Fortrea<\/strong>
\nFortrea is a leading global provider of clinical development solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, biotechnology, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients. Fortrea provides phase I-IV clinical trial management, clinical pharmacology and consulting services.<\/p>\n

Fortrea\u2019s 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. Our talented and diverse team working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally.<\/p>\n

Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com<\/u><\/a> and follow us on LinkedIn<\/u><\/a> and X<\/u><\/a> (formerly Twitter).<\/p>\n

Fortrea Contacts:<\/strong>\r\nHima Inguva (Investors) \u2013 877-495-0816, hima.inguva@fortrea.com<\/a>\r\nSue Zaranek (Media) \u2013 919-943-5422, media@fortrea.com<\/a>\r\nKate Dillon (Media) \u2013 646-818-9115, kdillon@prosek.com<\/u><\/a>\r\n\r\nArsenal Contact: <\/strong>\r\n\r\nEllen Pavlovsky \u2013 epavlovsky@arsenalcapital.com<\/a><\/pre>\n
 <\/p>\n
AGENCIA EFE S.A.U. shall not be liable for any information contained in this message and assumes no responsibility towards third parties in relation to its contents, being expressly exempt from any liability that the author may have in relation to the information in question.\u00a0\u00a0<\/span><\/i><\/p>\n<\/div>\n
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Statement issued by the company (Announcement) Fortrea a leading global contract research organization (\u201cCRO\u201d), today announced it has completed the divestiture of assets relating to its Enabling Services segment, namely […]<\/p>\n","protected":false},"author":198164071,"featured_media":48434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[125518],"tags":[],"class_list":["post-114500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire-en"],"acf":[],"yoast_head":"\nFortrea completes divestiture of Endpoint Clinical<\/title>\n<meta name=\"description\" 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