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KING of PRUSSIA, PA (June 25, 2012) – Greenphire, the leading provider of clinical payment technology and service solutions to Biopharmaceutical and medical device companies, today announced it has signed a 5-year enterprise agreement with a top 20 Biopharmaceutical Sponsor for its eClinicalGPS solution.
The eClinicalGPS solution will allow the Sponsor to fully automate the calculation, approval and execution of payments to clinical research sites in over 200 countries in local currency. The solution will be deployed across all new and existing studies. Beyond the immediate need to more effectively manage the payment process, improve efficiency, reduce costs and provide a single source for clinical financial analytics, the solution also provides the platform on which to aggregate all site payment in preparation for the compliance requirements of the Sunshine Act and related international transparency regulation.
Greenphire Co-founder and Chief Executive Officer Sam Whitaker, commented, “this agreement represents the beginning of a significant change in the way Sponsors think about the payment process within the clinical trial environment. Our vision of applying well designed, automated and scalable technology to a process which has historically relied on manual processes is driving positive change. We are reducing administrative burden, reducing payment cycle times and improving accuracy.”