Afinum's Empolis invests in Smart Reporting

Empolis acquired a minority stake in the business via its own cash flow. Afinum helped source the deal via its network.

Smart Reporting was established earlier this year by a radiologist and a former McKinsey employee. While the company hopes to benefit from Empolis's technological knowledge, the investing company sees it as a strategic expansion into reporting and analysis of diagnostic findings in medicine.

Following the investment, Smart Reporting plans a rollout of its technology to other areas of medicine, such as ears-nose-throat and nuclear medicine, as well as an expansion to other countries.

Previous funding
Private equity house Afinum bought a minority stake in Empolis in November 2015. The investor acquired a substantial minority stake via its €210m growth vehicle AF Eigenkapitalfonds für deutschen Mittelstand.

Company
Established in 2016 and based in Munich, Smart Reporting has developed a technology for the creation of medical reporting. It is provided to hospitals and medical practices as a software-as-a-service. With the software, medical reports can be statistically analysed and translated into other languages. The company claims 15% of all German radiologists have registered to use its technology.

People
Afinum – Jochen Martin (partner); Burkhard von Wangenheim (investment director); Hermann Rock (lawyer and general counsel).

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