Firm advises Clinithink on venture capital fundraising
Field Fisher Waterhouse has advised medical software company Clinithink Ltd on a multi-million pound venture capital fundraising structured in two tranches.
The deal involved a number of investors led by US-based Vanguard Atlantic Ltd.
Clinithink has developed innovative patent-pending cloud-based data analytics and mapping technology specifically for healthcare applications. The technology enables healthcare providers or insurers, pharmaceutical and other aggregators of clinical data to gain powerful and valuable insights into increasingly large volumes of unstructured textual data.
The investment will allow Clinithink to further expand its medical software business, particularly in the US.
The Field Fisher Waterhouse team was led by corporate partner, Christine Phillips and TMT partner David Naylor, assisted by associate, Tom Ward.
Christine Phillips said, "Investors in the UK and US are seeing opportunities in the growing field of healthcare data. We are pleased to have advised on this important deal for Clinithink, a very successful UK growth company that is gaining traction here and in the US, despite challenging economic conditions."
Chris Tackaberry, CEO of Clinithink said, "We are very pleased with the work that the team at Field Fisher Waterhouse has done in advising us on this deal. The investment by Vanguard Atlantic supports our vision to positively impact the healthcare-data industry and we look forward to exceeding expectations as a high-value UK start-up by successfully exporting value-added cloud-based data analytics technology to the US and other international markets.”
Field Fisher Waterhouse's 25-partner Corporate Group advises both domestic and overseas clients on corporate finance transactions ranging from setting up and investing in new ventures to major cross border acquisitions, joint ventures and listings. Working closely with the firm's market-leading TMT and IP practices, the firm advises across the full-range of TMT transactions, disputes and regulatory matters.
Vanguard Atlantic, advised by SJ Berwin, is a technology-focused venture capital firm specialising in software and services. Following the successful close of the first tranche for a multi-million pound investment, for a short period the deal allows for another institutional investor to join on the same terms to top up the round in a second tranche.