Remedy Informatics gets growth capital investment
Remedy Informatics Inc., a Salt Lake City-based company that provides software used in medical research, said it has received a $6 million capital investment from the Merck Global Health Innovation Fund.
The investment will give Merck a seat on Remedy's board of director and paves the way for possible additional investments in the future, Gary Kennedy, Remedy's founder and CEO, said in a statement announcing the investment.
He said over the past year the company has experienced unprecedented demand for its research management systems. "This additional capital will fuel our growth here in the U.S. and our expansion into Europe and Latin America," he said.
In addition, Kennedy said the additional capital will allow Remedy to continue to invest in and develop its products so it can bolster its presence in the marketplace.