Health Force, a developer of artificial intelligence agents to automate hospitals’ operational activities with headquarter in Barcelona and an operative hub in Milan, secured a 4.2 million euros seed round that LUMO Labs led. The company also attracted the resources of Target Global, Calm/Storm Ventures, Next Tier Ventures, and Italy’s STEP Fund, a vehicle that Alternative Capital Partners manages (press release and Linkedin post).
Health Force will invest the raised proceeds in its proprietary technology and hiring further human resources for its engineering and delivery teams in Barcelona, Milan, Germany, and France.
In 2021-2022, Fadi Haddad (ceo) and MD Juan Sebastián Suárez Valencia (chief product officer) founded Health Force in Vienna. A 2022 paper of Austrian incubator INiTS says that the company established in August 2021 and tried to raise 0.3 million euros through a convertible note. Health Force later raised pre-seed resources of 1.5 million US Dollars from lead investor Target Global, Calm/Storm and others.
Haddad commented: “Hospitals do not need yet another dashboard; they need to carry out their work. We provide clients with pre-trained AI agents that access existing systems and carry out practical tasks. All agents operate on the same platform, enabling hospitals to rely on a single partner to manage a range of needs. This also helps to overcome the fragmentation of the European market. Portuguese clients use for SICA reporting the same platform that automates processes between hospitals and insurance companies in Italy and that soon will automate KHVVG reporting in Germany. This round of funding enables us to scale up: more workflows, greater implementation capacity and new markets”.
Valeria Ingrosso, coo of Humanitas Research Hospital, said: “Health Force transformed the way we work: our teams and agents now manage insurance operations with a completely different approach to how we did just a few months ago. From an operational perspective, this change is structural, not incremental”.
Giovanni Bonora, cfo of Ospedale Galeazzi – Gruppo San Donato, added: “Hospital activity is growing year on year, whilst it is becoming more difficult to recruit the operational staff needed to support it. Health Force staff involvement grows our capacity in line with our volumes and can scale up on demand. This new model is transforming the economics of hospital management”.
Maria Imbesi, a partner of STEP Fund, added: “Health Force already proven its worth with Italy’s two leading private hospital groups. The team has in-depth knowledge of how clients operate and developed a pragmatic solution that is ready to scale up from the private sector and, gradually, into the public healthcare system as well. At STEP we work alongside the team and provide our network, market knowledge and sector expertise to strengthen this Italian foundation and support growth across Europe”.
Peter Roos, Target Global partner and cfo, said: “We backed Health Force during its pre-seed stage and are delighted to increase our investment to support the company’s next phase of growth. There is a huge market opportunity, a product with a solid customer base, strong commercial momentum and an exceptional team, which managed to achieve what many considered impossible: automating hospital operations within systems that are among the most complex in Europe”.
