PHILADELPHIA, January 13, 2015 /PRNewswire/ --
Greenphire, the global leader in clinical research payment technology, has brought on The Riverside Company as a new growth investor. The partnership and investment is designed to further enable Greenphire to expand operational infrastructure to support its rapidly expanding global client base, expand its product suite and accelerate the company's commercialization efforts. The Riverside Company is a global private equity firm that is uniquely positioned to aid Greenphire's continued growth into the future. Pepper Hamilton LLP advised Greenphire in connection with the transaction.
"Greenphire has experienced exponential growth each year since its inception. The management team has worked hard to grow while scaling its operations to ensure continued quality. After an extensive search for an investment partner, Greenphire was excited to select The Riverside Company as its partner to ensure continued success into the future," said Dr. Neil Rotherham, Chairman of Greenphire.
Greenphire's eClinicalGPS and ClinCard products enable sponsors, CROs and research sites to utilize a web based technology solution to improve patient and site payment processes, drive strategic value through analytics, improve patient retention and compliance, and reduce overall costs in the clinical trial payment process. Since 2008, Greenphire has collected over 500 clients and emerged as the clear leader in its space.
"We look forward to supporting the company in its next growth phase," said Riverside Principal Joe Manning. "This investment exemplifies Riverside's strategy of partnering with best-in-class companies with strong management teams."
Greenphire is the industry's leading provider of clinical payment technology, designed to change the way research professionals work. We leverage our proprietary workflow automation and advanced web‐based payment technologies to help our clients improve operational efficiency, access clinical financial analytics, reduce costs, mitigate regulatory risks, increase subject retention and compliance, and produce quantifiable results that improve clinical operations and strategic planning. Learn more at http://www.greenphire.com.
About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 320 transactions. The firm's international portfolio includes more than 70 companies.