Thoma Bravo set to acquire clinical trial financing platform Greenphire

Major private equity firm Thoma Bravo has announced to have reached an agreement to acquire clinical trials financial platform Greenphire, from The Riverside Company. The acquisition, although subject to regulatory approvals, is likely to be closed in the second quarter of 2021.

It is worth mentioning that clinical trial experts have always raised concerns regarding the ongoing challenges during each stage of a specific study. These issues are related to the trial design and delays, the growing burden of payment workflows, and tough patient recruitment and retention processes.

Greenphire is a financial management platform for clinical trials. The company is known to offer state-of-the-art solutions to enhance clinical trial performance by allowing for smooth payment and logistical workflows from CROs and other sponsors to sites as well as patients across the globe.

Over the years, Greenphire has emerged as a trusted partner for various clients including the top pharmaceutical companies as well as CROs. The company’s broad suite of flexible SaaS solutions has allowed sponsors, research sites, and CROs to support various types of clinical trials while accommodating nuanced regulatory requirements as well as regional workflow preferences.

CEO of Greenphire Jim Murphy was reported saying that the acquisition reflects on the company’s efforts of streamlining participant centricity during clinical trials. He added that Greenphire is looking forward to building on its growth and success story with Thoma Bravo.

Murphy will continue to act as Greenphire’s CEO alongside the existing management team in Pennsylvania, sources claimed.

About Thoma Bravo

Thoma Bravo, one of the largest private equity firms, boasts of USD 78 billion assets currently under management and has offices in Miami, Chicago, and San Francisco. The company invests in innovative and growth-oriented companies specializing in software and technology services.

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