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  "documentTitle": "Fortrea Holdings Inc. (FTRE)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2023-10-01 00:00:00",
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  "notes": "Includes annotations regarding acquisition status (TMO, PE Consortium) and ownership (Private) for specific firms.",
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      "text": "Top 7 CROs control over 80% of the CRO market",
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      "text": "Source: Wall Street research. Starboard has identified the peers as the relevant peer set for comparing FTRE's metrics.",
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      "text": "The CRO Industry is Highly Concentrated Due to the Competitive Advantages of Scale",
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      "structure": "The Giant's Weakness -> Our Slingshot (Unique Edge) -> The Topple",
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