Fortrea sponsors SCRS's Collaborate Forward group to enhance clinical research practices and reduce site administrative burdens.
Quiver AI Summary
Fortrea, a global contract research organization, has announced its sponsorship of the Society for Clinical Research Sites' (SCRS) Collaborate Forward working group, consisting of 16 Global Impact Partner organizations. This initiative aims to identify best practices for reducing administrative burdens in the clinical research ecosystem and enhance collaboration and transparency among clinical research sites. The group will focus on improving study startup processes and sharing success stories to foster greater efficiency in clinical trials. Fortrea's involvement reflects its commitment to innovation and collaboration in the industry, emphasizing the need for effective partnerships to accelerate patient access to life-changing treatments. The working group will share updates on its progress throughout 2025, inviting additional sponsors and CROs to participate in creating a more effective clinical research landscape.
Potential Positives
- Fortrea's sponsorship of the SCRS Collaborate Forward working group highlights its commitment to reducing administrative burdens in clinical research, showcasing the company's dedication to enhancing the efficiency of clinical trials.
- This partnership positions Fortrea as a leader in fostering collaboration within the clinical research community, enabling the development of best practices that can benefit a wide range of stakeholders.
- By participating in this initiative, Fortrea emphasizes its focus on innovation and its role in shaping a more sustainable and effective clinical trial ecosystem, which could enhance its reputation and attract potential clients.
Potential Negatives
- Fortrea’s involvement in the SCRS working group suggests a recognition of existing challenges within the clinical research ecosystem, which may raise concerns about the company's prior effectiveness and operational efficiency.
- The need for cross-industry collaboration and the overall focus on reducing administrative burdens may indicate that Fortrea has been unable to streamline its processes effectively on its own.
- As the clinical trial process is becoming increasingly complex, this could reflect negatively on Fortrea's ability to adapt quickly to industry changes and challenges without outside support.
FAQ
What is the purpose of the Collaborate Forward working group?
The Collaborate Forward working group aims to develop best practices to reduce administrative burdens in clinical research.
Who is sponsoring the Collaborate Forward initiative?
Fortrea, a leading global contract research organization, is the charter sponsor of the Collaborate Forward working group.
How will Collaborate Forward benefit clinical research sites?
The initiative focuses on improving internal processes, enhancing sustainability, and increasing efficiency for clinical research sites.
What are the goals of Fortrea’s sponsorship?
Fortrea aims to foster innovation and collaboration within the clinical research ecosystem to streamline trials and improve patient experiences.
How can organizations participate in the Collaborate Forward initiative?
Organizations interested in supporting site sustainability can contact SCRS for more information on joining the initiative.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FTRE Insider Trading Activity
$FTRE insiders have traded $FTRE stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $FTRE stock by insiders over the last 6 months:
- THOMAS PIKE (Chief Executive Officer) sold 11,268 shares for an estimated $203,274
- MARK A. MORAIS (Chief Operating Officer) has made 0 purchases and 2 sales selling 1,197 shares for an estimated $17,660.
- JILL G. MCCONNELL (Chief Financial Officer) has made 0 purchases and 2 sales selling 1,118 shares for an estimated $16,476.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FTRE Hedge Fund Activity
We have seen 130 institutional investors add shares of $FTRE stock to their portfolio, and 253 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 3,265,402 shares (+67.7%) to their portfolio in Q4 2024, for an estimated $60,899,747
- GATES CAPITAL MANAGEMENT, INC. removed 2,611,867 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $52,237,340
- BAUPOST GROUP LLC/MA removed 2,293,167 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $42,767,564
- VICTORY CAPITAL MANAGEMENT INC removed 1,312,549 shares (-98.6%) from their portfolio in Q4 2024, for an estimated $24,479,038
- CORVEX MANAGEMENT LP added 1,260,156 shares (+56.7%) to their portfolio in Q4 2024, for an estimated $23,501,909
- DIAMOND HILL CAPITAL MANAGEMENT INC removed 1,197,696 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $22,337,030
- STARBOARD VALUE LP removed 922,000 shares (-11.0%) from their portfolio in Q4 2024, for an estimated $17,195,300
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DURHAM, N.C., Feb. 20, 2025 (GLOBE NEWSWIRE) -- The Society for Clinical Research Sites (SCRS) and Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), are pleased to announce Fortrea’s sponsorship of the SCRS Collaborate Forward working group.
Comprising 16 leading Global Impact Partner organizations, the Collaborate Forward working group will explore and develop best practices to reduce administrative burdens across the clinical research ecosystem. The group is committed to fostering transparency and collaboration to tackle challenges faced by clinical research sites. By improving internal processes, it aims to make sites more sustainable and trials more efficient—ultimately leading to a smoother experience for patients.
Fortrea’s sponsorship marks a significant investment in fostering industry-wide innovation and reflects the company’s dedication to placing sites at the forefront of clinical trial planning.
“We are excited to partner with SCRS to launch and support this working group,” said Mike Clay, senior vice president of Global Project Delivery at Fortrea. “Clinical trials are becoming increasingly complex, and the industry faces mounting pressure to accelerate innovation for patients. We believe that collaboration with clinical research sites is key to unlocking efficiencies and productivity gains that will streamline the clinical trial process. This initiative will develop tangible solutions that clinical study sponsors, CROs, vendors, sites and patient advocacy groups can rally behind. As a leading CRO, we are proud to be at the forefront of this effort, ensuring that sites remain central to driving progress and fostering greater industry-wide collaboration to bring life-changing treatments to patients faster.”
“Clinical research requires a unique interdependency to generate the best outcomes. Collaborate Forward will share partnership successes that impact the people, process and technology improving clinical research today,” added Sean Soth, senior vice president, Strategy and Global Business Partnerships, SCRS. “We are pleased to welcome Fortrea as the charter sponsor of Collaborate Forward. This partnership underscores the value of cross-industry collaboration and the collective effort needed to drive meaningful progress in creating a more connected and efficient clinical trial ecosystem.”
Collaborate Forward will initially focus on study startup, showcasing the advantages of collaboration through compelling stories, case studies and data-driven insights. The group will convene regularly to exchange insights, assess industry trends and develop pragmatic tools that sponsors and CROs can implement within their organizations. Updates on the working group's progress will be shared throughout 2025 via SCRS Site Solutions Summits and publications, highlighting key findings and collaborative achievements.
SCRS invites sponsors and CROs committed to site sustainability to join this effort and contribute to shaping a more effective and synergistic clinical research landscape. For more information on how to participate, please contact Brian Egan .
About The Society for Clinical Research Sites
The Society for Clinical Research Sites (SCRS) is the leading advocacy organization dedicated to unifying the voice of the global clinical research site community. Representing more than 11,000 research sites globally, SCRS facilitates industry collaborations and conversations dedicated to site-focused advocacy, education, mentorship and connection. SCRS is an active and influential champion for sites in industry initiatives to ensure that the perspective of sites is heard and valued. Learn more and get involved at myscrs.org . Our voice. Our community. Your success.
About Fortrea
Fortrea (Nasdaq: FTRE) 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. Fortrea’s 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 about 100 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter).
SCRS Contacts:
Marissa Hill (Media) – 267-865-3296,
[email protected]
Brian Egan (Media) – 518-207-6965,
[email protected]
Fortrea Contacts:
Galen Wilson (Media) – 703-298-0802,
[email protected]
Kate Dillon (Media) – 646-818-9115,
[email protected]
