(Cambridge, UK and Boston, USA- 18 March 2014) Linguamatics’ sales showed strong growth and exceeded ten million dollars in 2013, it was announced today - outperforming the company’s targeted growth and expected sales figures. The increased sales came from a boost in new customers and increased software licenses to existing customers in the pharmaceutical and healthcare sectors. This included 130 per cent growth in healthcare sales plus increased sales in professional services.
Access to the right knowledge at the right time is crucial for knowledge driven organizations such as those in healthcare and pharmaceuticals. Linguamatics software platform, I2E, uses natural language processing (NLP) to go beyond conventional search methods and understand the meaning of text.
I2E identifies and extracts facts, assertions and relationships from unstructured text such as scientific literature, patents, clinical trials data, electronic health records (EHR), news feeds, social media and proprietary content in real-time and puts them into a structured format for further analysis to support key decision-making.
I2E delivers dramatically improved speed to actionable insight, using computer algorithms to automatically mine, analyze and connect relevant knowledge buried in vast amounts of textual data and generate higher quality, targeted results.
Linguamatics' customers include 16 of the top 20 global pharmaceutical companies, the US Food and Drug Administration (FDA), leading US hospitals, cancer institutes and academic research centers.
Commenting on the company’s performance in 2013, John M. Brimacombe, Executive Chairman of Linguamatics, said: "Our continued growth and success comes from our ability to respond to the demanding requirements of the pharmaceutical and healthcare industries to solve their big data problems.
"We’re delivering an innovative and market-leading NLP platform to answer many difficult and high-value questions from genomics through to patient care. I'm excited about our future development plans and their potential impact on helping to bring drugs to market faster and improve patient outcomes.”