For Smart Reporting, a company founded in 2014, which launched a 15 million financing round announced, this is the first company acquisition. With the acquisition of Health Data Pioneers, Smart Reporting is expanding its business model, which has so far focused primarily on structuring and digitizing medical reports. The startup is thus replacing error-prone free-text reporting with machine-readable and digitally processable data. Health Data Pioneers, founded in 2018 by Philipp Matthies and Francisco Pinto as a spin-off from the Technical University of Munich, specializes in the analysis of clinical data.
"Health Data Pioneers stands for privacy-preserving medical data analysis. We developed our software following this approach. We are very pleased to be able to continue our work with the Smart Reporting team,"
say Philipp Matthies and Francisco Pinto, the founders of Health Data Pioneers.
Clinical data can now be collected from various sources and analyzed at a central location in the hospital. The software also enables anonymized, GDPR-compliant transmission to other locations. This allows, for example, cross-hospital datasets to be created that make clinical trials more efficient. One example would be drug efficacy tests. This is a valuable development, especially in times of coronavirus.
“Perfect strategic addition”
"Health Data Pioneers strengthens us with expertise and software for data analysis and management. The technology behind it is the perfect strategic complement to Smart Reporting. In addition to documentation, we offer hospitals the opportunity to standardize and compare their data – anonymized and for the benefit of patients."
explained Wieland Sommer, Founder and CEO of Smart Reporting. The acquisition will form the basis for the development of further products.
Also be able to understand COVID-19 disease progression
Smart Reporting is also planning research collaborations in the area of COVID-19. Smart Reporting's template allows radiologists and pathologists to summarize the different stages of the disease into a clearly structured report using intelligent decision trees (Munich Startup reportedWith the new technology from Health Data Pioneers, the findings are consolidated at a central location in the hospital and can then be shared with other locations. This is an important function both for crisis management and for understanding and combating COVID-19.
The COVID-19 template is available in five languages – in addition to German, English, French, Spanish, and Portuguese – and can be used internationally. Within four weeks of its release, more than 2,000 international radiology clinics had registered. Together with Amazon Web Services and Thirona, Smart Reporting has now expanded its existing offering with an integrated and free AI algorithm.
Founders of Health Data Pioneers stay on board
In general, however, Smart Reporting has already convinced more than 10,000 physicians in radiology and pathology in over 90 countries worldwide. The startup now employs nearly 70 people. They are particularly looking for additional staff for the Brazilian office. And in Munich, the team has now grown by two additional employees, with the two main founders of Health Data Pioneers – Philipp Matthies and Francisco Pinto – joining. The two will remain on board and develop their own business unit within Smart Reporting.
