KOP Clinical Payments Company Greenphire Set to be Acquired by Thoma Bravo
Private equity firm Thoma Bravo will acquire King of Prussia-based Greenphire via a strategic investment, the companies announced Wednesday.
Thoma Bravo is purchasing the clinical trial payment company from The Riverside Company in a deal that is expected to close by the end of this fiscal quarter. Financial details of the deal were not disclosed. Thoma Bravo had more than $78 billion in assets under management as of March of this year, and it recently acquired Center City-based Talend.
Greenphire, which has 255 employees, won’t see any immediate changes to its staff, a company spokesperson told Technical.ly. CEO Jim Murphy and the rest of the company’s management team will continue to lead the firm.
“Our acquisition by Thoma Bravo is further validation of our strategy and the unique value we provide our clients, particularly as pharmaceutical companies and CROs accelerate trends towards participant centricity in their clinical trials,” Murphy said in a statement. “We have continued to set the standard for financial workflow automation and patient convenience in clinical trials on a global scale and look forward to building on our growth and success during this new chapter with Thoma Bravo.”
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