Greenphire gets ready for sale

Tom Paine

Greenphire, the King of Prussia-based clinical trial payments tech company, will up for sale, PE Hub reported (signup required). Riverside Company, which acquired it in 2015, will be the seller.

Greenphire is expected to appeal to both strategic and financial buyers, as well as both tech and clinical firms. The sales process will kick off in April, PE Hub’s sources tell them.

Greenphire has north of 200 employees, per LinkedIn. In this business, there’s always a fair chance that the buyer will have connections to Philly.

One source suggested it could be worth as much as $1 billion, which seems unlikely.