Suvoda Completes Merger with Greenphire to Strengthen Clinical Trial Solutions
Deal News | Apr 24, 2025 | PR Newswire Cision Suvoda LLC; Greenphire
In a strategic move within the clinical trial technology sector, Suvoda, a global leader specializing in clinical trial solutions, announced its successful merger with Greenphire, known for its financial management and patient support tools in clinical trials. This merger combines the strengths of both companies, offering expanded capabilities to streamline clinical trial operations and enhance patient engagement. Operating under the unified name of Suvoda, the merged entity aims to provide a comprehensive platform that integrates data and simplifies workflow, thereby optimizing trial efficiency and outcomes. Jagath Wanninayake will lead the merged company as CEO, with Thoma Bravo as the primary strategic investor, alongside minority investments from Bain Capital Tech Opportunities Fund and LLR Partners. Both companies, with robust histories in the industry, aim to leverage their combined expertise to improve service delivery in clinical trials, meeting the evolving needs of clients and stakeholders across the globe.
Sectors
- Healthcare Technology
- Clinical Trials Management
Geography
- United States – Both Suvoda and Greenphire are based in Pennsylvania, USA, highlighting the domestic focus of the merger.
- Global – The merger affects a global market, with both companies providing services to clinical trials conducted worldwide.
Industry
- Healthcare Technology – This industry is relevant due to the nature of Suvoda and Greenphire's business, as they are involved in developing technology solutions for clinical trials.
- Clinical Trials Management – This sector is specifically targeted by both Suvoda and Greenphire, who provide services and technologies to manage and execute clinical trials effectively.
Financials
- Not specified in the article – The article does not provide specific financial information regarding the deal terms or valuation.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Suvoda LLC | Target and Merged Company | Company | Suvoda is a global tech firm specializing in solutions for clinical trials, now the unified entity post-merger. |
| Greenphire | Merged Company | Company | Greenphire specializes in payment and patient support tools for clinical trials and has merged with Suvoda. |
| Thoma Bravo | Strategic Investor | Company | A leading investment firm in the software industry, acting as the primary investor in the merged entity. |
| Bain Capital Tech Opportunities Fund | Minority Investor | Company | Investment firm providing minority investment in the merged company. |
| LLR Partners | Minority Investor | Company | Private equity firm making a minority investment in the Suvoda-Greenphire merger. |
| Jagath Wanninayake | CEO | Person | CEO of the merged company, former founder of Suvoda. |