Suvoda and Greenphire Merge to Create Unified Technology Platform

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Suvoda and Greenphire have announced an agreement to merge. The merger will unite both clinical technology vendors to offer an end-to-end platform for clinical trials. Under the terms of the agreement, Jagath Wanninayake, Suvoda's founder and chief executive officer, will serve as CEO for the combined company. Closing of the agreement is expected in Q2 2025.¹

The portfolio of the newly combined company includes patient-centric solutions, trial randomization, supply management, eConsent, eCOA, patient and grant payments, study budgeting, and travel and logistics management—all within one platform.

In a press release, Wanninayake said, "Suvoda and Greenphire are both mission-driven businesses, focused on easing sponsor, site, and patient burden in clinical trials. Combined, we'll continue to deliver with the same excellence and service our customers expect, while accelerating the pace of product innovation in the most urgent moments of the most urgent trials. I am excited for Suvoda and Greenphire to join forces—we each serve a great portion of the patient journey and have a shared mission to transform patients' and sites' experiences within clinical trials. Now, we'll do it together."

Greenphire CEO, Jim Murphy, will continue to lead Greenphire through the closing date and serve as an advisor to the newly combined company throughout 2025, ensuring a smooth transition.

"The transaction marks the beginning of an incredible new journey for Greenphire, our customers, partners and employees. The merger will enable us to even better serve all clinical trial stakeholders as we work with our new colleagues to redefine the site and patient experience. By putting these two industry leaders together, our organization will be able to offer you the unprecedented ability to partner with one singular solution provider—from eConsent, randomization, and eCOA to budgets, payments, travel, and mobile access," Murphy said in the press release.

Earlier in August 2024, Applied Clinical Trials spoke with Murphy about a number of key industry topics that Greenphire specializes in, including budgeting, analytics, and patient data access.

Along with a leadership team comprised of individuals from both Suvoda and Greenphire, Thoma Bravo, a software investment firm, will be the lead strategic investor in the combined company, and Bain Capital Tech Opportunities will make a significant minority investment upon closing.

"The combination of Suvoda and Greenphire, two leaders in clinical trial technology, will create a new company with significant scale, a unique set of complementary product offerings, and a highly skilled management team with an impressive track record of success and history of high growth. We look forward to supporting the go-forward company's next phase of growth," Hudson Smith, partner, Thoma Bravo, said in the press release.

Michael Grandfield, managing director, Bain Capital Tech Opportunities added, "We are excited to back the combination of Suvoda and Greenphire. Both businesses stand out in terms of best-in-class customer feedback, which stems from their modern, easy to use products and relentless focus on customer and patient outcomes. Together, the combined business will be able to invest in the most innovative platform for clinical trial operations, resulting in continued success for all participants in the clinical trial ecosystem."

Reference

1. Suvoda and Greenphire to Merge Creating a Technology Platform Optimizing Clinical Trial Processes and Streamlining the Patient Journey. News release. Suvoda, Greenphire. January 13, 2025. Accessed January 14, 2025. https://www.prnewswire.com/news-releases/suvoda-and-greenphire-to-merge-creating-a-technology-platform-optimizing-clinical-trial-processes-and-streamlining-the-patient-journey-302348699.html