Labcorp completed the spin-off of Fortrea.

Labcorp, a life sciences company, completed the spin-off of Fortrea, the clinical development business of Labcorp. Financial terms were not disclosed. "I want to thank our teams for their tireless work in creating two strong, independent companies through the Fortrea spin. The transaction is intended to better meet customer needs, enable appropriate value-creating investments and unlock shareholder value. Moving forward, Labcorp is well positioned to deliver on our mission to improve health and improve lives," Adam Schechter, Labcorp Chairman and CEO.