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Merck & Co. fund, TT Capital Partners invest in privately held Clinithink

A Merck & Co. Inc. fund and TT Capital Partners LLC invested in Clinithink Ltd., a U.K.-based provider of clinical data insights.

Privately held Clinithink did not disclose the terms of the investment, which will go toward expanding its global footprint and service offering.

Merck & Co. made the investment through its MSD Global Health Innovation Fund. The Kenilworth, N.J.-based pharmaceutical giant operates as Merck Sharp & Dohme outside the U.S.

Clinithink's patented CLiX natural language processing platform uses artificial intelligence technology to process up to two million clinical documents an hour.

The company also provides revenue cycle management, or RCM, capabilities to hospitals and health systems. RCM optimizes the healthcare system by verifying the appropriateness of diagnostic tests and treatments, while ensuring appropriate reimbursement. The market for RCM is estimated to reach $90 billion by 2022, according to Clinithink.