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06/12/2012

Clinithink opens a global R&D centre in Bridgend

Rt. Hon Carwyn Jones AM, First Minister of Wales, opens Clinithink’s global R&D centre in Bridgend, emphasising the Welsh government’s commitment to stimulating economic growth by attracting leading companies in the technology sector to Wales.

Clinithink is a specialist technology supplier that produces innovative IT solutions for the healthcare market. The company has developed a state-of-the-art, cloud-based text processing capability that can be used to support data analytics, coding and decision-support in healthcare applications. This in turn helps providers of healthcare to improve care whilst at the same time operate more efficiently.

Clinithink is an export-led company with the majority of its revenues currently coming from the US where it has recently won several major contracts. The company has secured multi-million pound investment backing from a consortium of investors led by Vanguard Atlantic, a US-based venture firm. The consortium includes Finance Wales, one of the UK’s largest regional SME investment firms. Clinithink has taken the strategic decision to base its R&D operation in South Wales as part of its plan to respond to the growing demand it is seeing for its technology in a number of markets worldwide.

Currently, Clinithink employs eight full-time staff members at the R&D operation in Bridgend and expects to add a significant number of additional staff over the next two years. The company is committed both to creating employment locally and to developing high value technology skills. It is investing in a graduate recruitment programme supported by the Go Wales government initiative which recently resulted in the appointment of Clinithink’s first graduate software engineer.

Mr Jones, officially opened the Bridgend office on Friday the 23rd of November, said, ‘The Welsh Government is absolutely committed to making Wales the first choice for investment by young, dynamic companies that have the potential to grow and boost our economy. Clinithink is a great example of the kind of businesses Wales is attracting as a result of our approach to economic development.

‘It is encouraging to see an office for Clinithink in Wales working with their counterparts in the US and London. This shows that Wales is a key place for research and development companies and has the quality workforce available to help deliver this company's innovative work. I look forward to seeing the research and development centre grow.

‘I hope that we are able to continue to work with Clinithink and help them, through our business support programmes, to realise their growth potential in Wales. I would like to congratulate Clinithink on their successful bid for funding from Finance Wales, enabling them to open this research & development centre.’

Senior Investment Executive at Finance Wales, Melanie Goward said: ‘We’re delighted with our partnership with Clinithink. The company is well-positioned to take advantage of the huge opportunities we see in this space in the US and other markets. We look forward to working with the company to establish its UK R&D function in South Wales and fulfil its commercial potential.’

CEO of Clinithink, Chris Tackaberry said, ‘We are extremely proud to be welcoming the First Minister to our global R&D centre in Bridgend to open it officially. We look forward to building our operation here in Bridgend to support our ambition for growth of the company. The hard work is ours to do but support from various Government initiatives, to make it easier for us to create jobs and opportunities locally, is welcome. The First Minister’s visit symbolises that support and we sincerely appreciate it.’