Suvoda Completes Merger with Greenphire to Transform Clinical Trial Solutions
Deal News | Apr 24, 2025 | Thoma Bravo
The merger between Suvoda, a clinical trial technology company, and Greenphire, a leader in clinical trial payments, has been successfully completed, placing both companies under the ownership and management of Suvoda. This merger aims to enhance the companies' ability to support clinical trials by offering a comprehensive platform that integrates financial management and patient support with clinical trial technology. This merger is backed by Thoma Bravo, a leading investment firm, who serves as the strategic investor, with Bain Capital Tech Opportunities Fund and LLR Partners providing additional minority investments. The unification of Suvoda and Greenphire promises to deliver a sophisticated data-driven service, offering improved operational efficiency and patient outcomes by simplifying clinical trial processes. Jagath Wanninayake, Suvoda's CEO, will guide this new entity as its chief executive officer.
Sectors
- Healthcare Technology
- Private Equity
Geography
- United States – Both Suvoda and Greenphire are headquartered in the United States, with Suvoda outside Philadelphia and Greenphire in King of Prussia, PA.
- Global – Both companies operate globally, with support and solution provisions across numerous countries, impacting worldwide clinical trials.
Industry
- Healthcare Technology – The merger involves companies specializing in clinical trial technology and financial management, both essential components of the healthcare technology sector.
- Private Equity – Thoma Bravo, a private equity firm, played a key role as the lead strategic investor in the merger, showcasing the involvement of private equity in facilitating M&A activities.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Suvoda | Target Company | Company | A global clinical trial technology company specializing in complex, life-sustaining studies. |
| Greenphire | Target Company | Company | A leader in financial management and patient support for global clinical trials. |
| Thoma Bravo | Lead Investor | Company | A leading private equity firm specialized in software investments. |
| Bain Capital Tech Opportunities Fund | Investor | Company | An investment fund focused on tech opportunities that participated as a minority investor in the merger. |
| LLR Partners | Investor | Company | A middle-market private equity firm that made a minority investment in the merged entity. |
| Jagath Wanninayake | CEO | Person | Founder and CEO of Suvoda, now leading the merged company as its Chief Executive Officer. |