Fortrea sells Enabling Services assets to Arsenal Capital Partners

Fortrea, a well-known global contract research organization, has recently completed the sale of assets related to its Enabling Services division to Arsenal Capital Partners. This sale includes businesses such as Endpoint Clinical and Fortrea Patient Access, which provide top-quality Randomization and Trial Supply Management (RTSM) and patient access solutions within the pharmaceutical services industry.

Arsenal Capital Partners, a leading private equity firm specializing in technology-rich healthcare and industrial growth companies, has appointed Sam Osman as the CEO of the acquired entities, with Ray H. Hill as the chairman of the board. The new leadership is optimistic about the partnership and foresees accelerated growth and improved solutions for customers.

Tom Pike, the Chairman and CEO of Fortrea, emphasized a seamless transition for employees, clients, and patients post-divestiture. The proceeds from the sale will be used to reduce Fortrea's debt, enabling the organization to concentrate on its primary goal of efficiently delivering innovative treatments to patients.

Endpoint Clinical, a leading provider of RTSM solutions, and Fortrea Patient Access, a significant player in patient support and access services, are dedicated to enhancing healthcare accessibility and patient outcomes. Arsenal Capital Partners, renowned for developing market-leading companies, aims to collaborate closely with management teams to foster growth and value creation.

This strategic move by Fortrea to sell its Enabling Services division assets to Arsenal Capital Partners signifies a shift towards focusing on core clinical development solutions. The partnership promises enhanced services and growth opportunities for all stakeholders involved, ultimately aiming to expedite the delivery of life-changing therapies to patients worldwide.