Thoma Bravo, has reached an agreement to acquire Greenphire, the global leader in financial lifecycle management software for clinical trials, from The Riverside Company.

The deal, which is subject to customary regulatory approvals, is expected to close in the second quarter of this year. Jim Murphy, CEO of Greenphire, will continue to lead the company along with the existing management team in King of Prussia, PA. Financial details have not been disclosed.

Founded in 2008, Greenphire enables pharmaceutical industry leaders worldwide to run more efficient and successful clinical trials. The company’s end-to-end solutions optimise clinical trial performance by streamlining payment and logistical workflows from sponsors and contract research organizations (CROs) to sites and patients in more than 70 countries. Greenphire has earned the position of trusted partner for a broad array of clients including the majority of the top 30 pharmaceutical companies and top 10 CROs as well as leading investigative research sites. Using the company’s flexible SaaS solution suite, sponsors, CROs and research sites are able to support trials of any design and complexity while accommodating regional workflow preferences and nuanced regulatory requirements.

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Source: Private Equity Wire