LUXEMBOURG — Smart Reporting, a pioneering health-tech startup headquartered in Munich, has successfully closed a €15 million venture debt loan from the European Investment Bank (EIB) to propel its expansion plans. This strategic move aims to bolster the company’s innovative medical documentation technology, which leverages artificial intelligence (AI) to streamline the collection, structuring, and processing of clinical data, according to a press release published on EuropaWire .

The cutting-edge technology developed by Smart Reporting enables efficient documentation through voice-controlled AI-supported diagnostic software across various clinical domains, including radiology and pathology. By harnessing the power of AI, Smart Reporting’s solution enhances diagnostic quality, reduces the time to diagnosis, automates manual processes, and facilitates seamless communication with referring physicians.

Ambroise Fayolle, Vice-President of the EIB responsible for financing in Germany, emphasized the significance of Smart Reporting’s contribution to healthcare digitalization, stating, “Smart Reporting develops effective solutions to accelerate standard procedures and diagnostics in doctors’ offices and hospitals, integrating the latest medical information and guidelines. The technology has strategic importance for the digitalization of healthcare, and makes the data collected usable for future diagnostics and medical research.”

The €15 million venture debt loan, supported by the InvestEU Programme, underscores the EIB’s commitment to fostering innovation in the healthcare sector. Venture debt financing provides a non-dilutive funding avenue for startups like Smart Reporting, allowing them to scale their operations without relinquishing equity.

Wieland Sommer, Co-CEO and founder of Smart Reporting, highlighted the pivotal role of data in shaping the future of medicine, stating, “The future of medicine is data-driven. It will take high-quality, standardized data to automate clinical workflows in depth, enable evidence-based decision-making, and ensure efficient, quality medical care in the future.”

Peter Vanovertveld, Co-CEO of Smart Reporting, underscored the company’s market positioning and its commitment to advancing data-driven solutions in healthcare, stating, “Smart Reporting is the leading provider of tech-driven solutions that structure clinical data right as it is created. The virtually unique interoperability of our software and its seamless integration into the clinical workflow enable the systematic generation of complete, quality-controlled data.”

Founded in 2014 by Wieland Sommer, Smart Reporting has emerged as a frontrunner in harnessing medical data for informed decision-making and treatment. The company’s interdisciplinary team of doctors, data scientists, and software engineers is dedicated to developing software solutions that revolutionize clinical workflows.

Smart Reporting’s latest financing arrangement was facilitated by Goetzpartners, a leading advisory firm. This influx of capital will enable Smart Reporting to accelerate its global expansion efforts, particularly in markets like the US and Canada, while further advancing its software and data business.

For more information about Smart Reporting and its innovative medical documentation technology, visit Smart Reporting’s website.