Suvoda Announces Merger Completion with Greenphire
Deal News | Apr 24, 2025 | PR Newswire Cision Suvoda LLC; Greenphire
Suvoda, a global technology company specializing in solutions for clinical trials, and Greenphire, a leader in clinical trial payment and financial management solutions, have announced the completion of their merger. As a result of this merger, the combined company, which will continue under the name Suvoda, is now better positioned to provide comprehensive solutions for crucial moments in clinical trials. The merger brings together enhanced offerings, improved customer support, and a unified platform aimed at simplifying workflows in clinical studies. Under the leadership of Jagath Wanninayake, the founder and CEO of Suvoda, the company gains significant strategic investment from Thoma Bravo, with Bain Capital Tech Opportunities Fund and LLR Partners holding minority stakes. The merger represents a strategic milestone in enhancing operational efficiencies, reducing costs, and improving patient outcomes. Suvoda remains committed to enabling better decision-making with deeper insights for sponsors, trial sites, and patients, while Greenphire's name continues at the product level.
Sectors
- Clinical Trials Technology
- Software and IT Services
Geography
- United States – Both Suvoda and Greenphire are based in Pennsylvania, USA, making it the primary location of the merged company.
- Global – The operations of Suvoda and Greenphire span multiple countries, highlighting the global impact of their merger.
Industry
- Clinical Trials Technology – The merger involves companies providing technology solutions specifically for the management and execution of clinical trials.
- Software and IT Services – Both companies operate in the realm of software solutions that cater to clinical trial processes and financial management.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Suvoda | Merged Entity | Company | A global technology company for clinical trials, focusing on complex, life-sustaining studies. |
| Greenphire | Merged Entity | Company | A leader in payment solutions, financial management, and patient support tools for clinical trials. |
| Thoma Bravo | Strategic Investor | Company | A leading software investment firm and the primary strategic investor in the merger. |
| Bain Capital Tech Opportunities Fund | Investor | Company | Holds a significant minority stake in the merged company. |
| LLR Partners | Investor | Company | Holds a significant minority stake in the merged entity. |
| Jagath Wanninayake | CEO | Person | Founder and CEO of Suvoda and now leads the merged entity. |