Suvoda and Greenphire, two leaders in clinical trial technology, have announced their merger, aiming to create a comprehensive platform that enhances the clinical trial process and improves patient experiences. This merger will combine Suvoda's expertise in randomization, trial supply management, and patient outcomes with Greenphire's strengths in financial management and patient support tools.

The new entity will offer an integrated digital experience that includes solutions for randomization, eConsent, patient payments, budgeting, and logistics. This unified approach is expected to simplify access for clinical trial sites and improve patient engagement, ultimately facilitating the delivery of essential medicines to those in need.

Jagath Wanninayake, Suvoda's founder and CEO, will lead the merged company, with Greenphire's CEO Jim Murphy serving as an advisor during the transition. The leadership team will comprise members from both organizations, ensuring a blend of expertise and vision.

Thoma Bravo, a prominent software investment firm, will be the lead strategic investor in the new company, with Bain Capital Tech Opportunities also making a significant investment. Financial and legal advisory roles have been assigned to William Blair & Company and Morgan Lewis for Suvoda, and J.P. Morgan Securities LLC and Goodwin Procter for Greenphire.

Both CEOs expressed enthusiasm about the merger, highlighting their shared mission to enhance the clinical trial experience for all stakeholders. They emphasized the importance of innovation and customer service in their combined efforts to streamline clinical trial workflows.

Suvoda, founded in 2013, specializes in complex clinical trials across various therapeutic areas, including oncology and rare diseases. The company has a strong track record, supporting over 1,500 trials globally with a high Net Promoter Score, indicating strong customer satisfaction.

Greenphire, established in 2008, focuses on financial management and patient support in clinical trials. The company has developed solutions that facilitate participant reimbursements, travel, and site payments, supporting over one million active trial participants worldwide.

The merger is expected to close in the second quarter of 2025, pending regulatory approvals. The combination of Suvoda and Greenphire is anticipated to create a powerful entity capable of addressing the complexities of modern clinical trials, ultimately benefiting patients, sites, and sponsors alike.