TVM Capital Life Science Portfolio Company Smart Reporting to Acquire Fluency for Imaging - Uniting to Create Jacobian™ and Accelerate AI-Powered Reporting

MUNICH, Germany and MONTREAL, Oct. 16, 2025 (GLOBE NEWSWIRE) -- TVM Capital Life Science (“TVM”), a leading international venture capital firm focused on investments in life sciences innovation, today announced that its portfolio company, Smart Reporting, a pioneer in AI-powered diagnostic reporting, has entered into a definitive agreement to acquire Fluency for Imaging (FFI), the market-leading radiology reporting and workflow platform.

Founded by radiologists in 2014, Smart Reporting has become a global reference point for standardized and automated diagnostic reporting - bridging clinical expertise with next-generation AI. Upon closing the transaction, the teams and technologies of Smart Reporting and FFI will take their next significant step, the whole teams uniting to form Jacobian^TM.

As a new diagnostic-imaging-focused company, Jacobian^TM will combine trusted workflow, market-leading AI and speech and language technology with standardized, computable clinical reporting in a single, deeply integrated solution. Dr. Hubert Birner of TVM Capital Life Science will serve as Chairman of the Supervisory Board of Jacobian^TM, and Stefan Fischer of TVM Capital Life Science will join the Supervisory Board upon closing.

Radiology is at a critical inflection point: exam volumes are rising, radiologist shortages persist, and cost pressures continue to mount. While imaging AI has demonstrated clear promise, adoption has been slowed by fragmented workflows and limited clinical alignment. With new investment, focus and leadership, Jacobian^TM will address this gap by delivering seamless, AI-powered experiences that are purpose built for radiologists and grounded in clinical best practices.

"The creation of Jacobian^TM demonstrates the level of innovation possible when visionary teams and breakthrough technologies come together. By supporting the acquisition of Fluency for Imaging by Smart Reporting, we are advancing the use of AI-driven solutions that are already transforming clinical practice worldwide and strengthening important partnerships across the industry," said Dr. Hubert Birner, Managing Partner at TVM Capital Life Science. "This is a strong example of our investment strategy to build and scale differentiated, commercially successful healthcare companies. Jacobian^TM will enable radiologists to work more efficiently while ensuring patients benefit from more precise, high-quality care."

"This acquisition reflects TVM’s late-stage investment strategy, which focuses on companies with highly innovative and differentiated technologies and proven commercial traction. By combining two complementary leaders in diagnostic imaging reporting, Jacobian^TM is well positioned to achieve meaningful, value-creating milestones in the near term," added Stefan Fischer, Managing Partner (Finance) at TVM Capital Life Science. "With this definitive agreement, Jacobian^TM will establish itself as the market leader in AI-powered radiology reporting and workflow solutions."

Building on a two-year innovation partnership, the formation of Jacobian^TM brings together intellectual property, medical knowledge modeling, advanced AI capabilities, whole product and engineering teams, and industry-leading customer support to ensure continuity and accelerate responsible AI adoption at scale in everyday practice.

Prof. Dr. Wieland Sommer, Founder of Smart Reporting, noted: “With significant investment, a clear focus on diagnostic imaging, and an exceptional leadership team, Jacobian^TM is committed to writing the next chapter of innovation for Fluency for Imaging. We will strengthen FFI’s leadership position by bringing cutting-edge GenAI right into the known FFI environment, helping radiologists work faster, better, and more consistently - without disruption - and in a way that keeps their expertise at the centre. In summary: Same people. Same dedication. More capability.”

Jacobian^TM will be led by the radiologist founders of Smart Reporting and the AI pioneers behind FFI. Operating globally, the new company will be headquartered in Pittsburgh, PA, USA, and Munich, Germany, serving customers across the USA, Canada, Europe, and Australia through localized hosting and services. Combined, Jacobian^TM will process approximately 80 million exams per year and will support and grow a global user base that is ranked number one in Australia and number two in the USA and Canada.

Smart Reporting’s acquisition of FFI is anticipated to close by the end of 2025. Jacobian^TM and its new leadership team will reveal forthcoming innovations and additional details on partnerships and outcomes at RSNA 2025.

About TVM Capital Life Science
TVM is a leading international venture capital firm focused on investing in life science innovations. The company has a highly experienced transatlantic investment team and approximately $900 million under management. TVM’s portfolio focuses on therapeutics and medical technologies from North America and the EU that represent differentiated first-in-class or best-in-class assets with the potential to transform standard of care.

TVM pursues a unique two-pronged strategy, financing innovative early-stage therapeutics through a single asset company approach (Project-Focused Company, PFC). TVM also invests in differentiated commercial-stage medical technologies and late clinical-stage therapeutics.

With its late-stage investments, TVM focuses on differentiated medical technologies and health tech with commercial proof-of-concept, as well as late-stage therapeutics expected to quickly reach major development or regulatory milestones. This strategy has been validated through a number of companies in both Fund I and II and the Colucid Pharmaceuticals exit.

The TVM investment team has worked together for over a decade to effectively utilize this innovative approach to maximize returns for investors and finance new therapies and technologies to meaningfully improve patient lives.

For further information, please visit www.tvm-capital.com. Follow TVM on LinkedIn.

About Jacobian^TM
Jacobian^TM is a newly formed company born from the union of Smart Reporting and the Fluency for Imaging technology - two pioneers in diagnostic reporting technology. Built with significant investment and a singular focus on diagnostic reporting, Jacobian^TM combines best-in-class speech recognition with advanced AI, structured reporting, and multilingual workflow automation. Its goal is to reduce cognitive load, improve consistency, and support physicians in delivering diagnostic excellence at scale. With over 80 million exams processed annually and a leadership team rooted in diagnostic practice and pioneering technology innovation, Jacobian^TM is committed to responsible AI that amplifies physician expertise. The name is inspired by the Jacobian matrix in mathematics. Fundamental to the development of AI, it’s a concept that describes how small changes in multiple variables transform into large-scale outcomes.

About Smart Reporting
Smart Reporting, founded in Munich in 2014 by radiologist Prof. Dr. Wieland Sommer, was recognized by TIME as one of the World’s Top Health Tech Companies of 2025. Since its founding, it has set the pace of innovation in AI-driven diagnostic reporting workflows and contextual understanding of medical guidelines. With a strong partner network distributed worldwide, its platform is globally trusted to enhance workflows in radiology and pathology with guideline-driven automation and AI-powered tools.

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