Suvoda and Greenphire to Unite for Enhanced Clinical Trial Solutions
Deal News | Jan 13, 2025 | Thoma Bravo
Suvoda, a noted clinical trial technology company, and Greenphire, a leader in clinical trial payments and financial management, are set to merge, aiming to establish a comprehensive technology platform that enhances clinical trial processes and patient experiences. Both companies, possessing a strong reputation in the field, will combine their offerings to facilitate and streamline clinical trials from randomization to patient payments within a unified digital platform. This merger is poised to address critical needs for patients, sites, and sponsors, making trials more patient-centric and providing holistic solutions, fundamentally reshaping site and patient interaction in trials. The combined entity will be led by Jagath Wanninayake, Suvoda’s CEO, and is backed by prominent investor Thoma Bravo with significant contributions from Bain Capital Tech Opportunities. The merger is projected to conclude in the second quarter of 2025, subject to regulatory approvals.
Sectors
- Biotechnology and Pharmaceuticals
- Technology
- Healthcare
Geography
- United States – Both companies, Suvoda and Greenphire, as well as the investment firm Thoma Bravo, are based in the United States, with Suvoda headquartered in Pennsylvania.
Industry
- Biotechnology and Pharmaceuticals – The article discusses the merger of two companies that specialize in clinical trial technologies, focusing on innovations and solutions that streamline pharmaceutical trial operations.
- Technology – Both companies involved are known for their technological solutions focused on optimizing clinical trial processes, including financial management and patient support tools.
- Healthcare – The merger focuses on enhancing patient and site experiences in clinical trials, indicating a direct relevance to the healthcare sector.
Financials
- – The specific financial terms of the merger are not disclosed, but Bain Capital Tech Opportunities is making a significant minority investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Suvoda | Target Company | Company | A global clinical trial technology company specializing in randomization and trial supply management. |
| Greenphire | Bidding Company | Company | Leader in clinical trial payments, financial management and patient support tools. |
| Thoma Bravo | PE Firm | Company | A leading software investment firm acting as the lead strategic investor in the combined company. |
| Bain Capital Tech Opportunities | Investor | Company | Making a significant minority investment into the combined company. |
| William Blair & Company, L.L.C. | Financial Advisor for Suvoda | Company | Provided financial advisory services to Suvoda. |
| Morgan Lewis | Legal Advisor for Suvoda | Company | Provided legal advisory services to Suvoda. |
| J.P. Morgan Securities LLC | Financial Advisor for Greenphire | Company | Provided financial advisory services to Greenphire. |
| Goodwin Procter | Legal Advisor for Greenphire | Company | Provided legal advisory services to Greenphire. |
| Jagath Wanninayake | CEO of Suvoda and future CEO of the combined company | Person | Current CEO of Suvoda, will lead the combined entity. |
| Jim Murphy | CEO of Greenphire and Advisor | Person | Current CEO of Greenphire, will serve as an advisor to the company post-merger. |