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23/06/2014

Clinithink debuts CLiX ENRICH platform, raises additional capital from existing investors to fuel growth

New data abstraction capabilities designed to enable clinical analysis
London, UK. (June 30, 2014) - Clinithink, an industry leading provider of technology to manage unstructured healthcare data, today announced its new data abstraction platform, CLiX ENRICH, and a further multi-million dollar equity finance deal with its existing institutional investors: New York-based Vanguard Atlantic and UK-based Finance Wales. 

There is evidence of significant traction for solutions in the healthcare analytics space that deal with unstructured data. A wide variety of healthcare companies are recognizing that considerable value lies within narrative clinical data, a previously untapped asset.

“Responding to this demand for value, we developed CLiX ENRICH, which sits on top of our core clinical natural language processing (CNLP), CLiX, and plugs into third party business intelligence and analytics solutions,” said Clinithink CEO and founder Chris Tackaberry. “The initial response from the market to this latest offering has been encouraging and we approached existing and potential investors for additional capital to support our short and medium term plans for growth. I am delighted that our existing partners, Vanguard Atlantic and Finance Wales have both chosen to take the opportunity to invest further in Clinithink leaving the round fully subscribed. It’s a great vote of confidence in the team, the product and the market from two very experienced technology investment companies.”
 
“As recent transactions indicate, interrogation of healthcare data―and unstructured data in particular―is regarded as a strategic high growth market by the technology investment community,” said Ernest E. “Lee” Keet, CEO and Chief Investment Officer at Vanguard Atlantic. “We are content with our investment thesis in relation to this space and are happy to have Clinithink in our portfolio.“

“Having backed Clinithink to open its R&D facility in Wales, we are pleased to continue to support them through this latest phase of development. Clinithink  has high growth potential and is well-positioned to take advantage of the huge opportunities they had identified.” said Dr Melanie Goward, Deputy Fund Manager, Finance Wales.

The CLiX ENRICH platform, created specifically for the healthcare industry, enables sophisticated clinical analysis to support a wide range of business and clinical applications, Health Information Exchanges (HIEs), providers, payers and organizations conducting clinical research all benefit from the narrative data unlocked by CLiX ENRICH, ultimately leading to improved population health.

For more information, visit http://www.clinithink.com/ or email us at sales@clinithink.com.

Register now to use CLiX ONLINE at www.clinithink.com/clix-online/.