Smile Digital Health Secures $15 Million in Credit Financing With FirePower Capital to Accelerate Growth and Innovation in Health Data Solutions

TORONTO, ONTARIO / ACCESS Newswire / February 6, 2025 /Smile CDR Inc. (d.b.a. Smile Digital Health), the world leader in FHIR®-based health data solutions, today announced a successful $15 million credit financing agreement with FirePower Capital. This strategic partnership will enable Smile to accelerate the growth and development of its market-leading health data platform and further expand its innovative solutions for the healthcare sector.

As the leading solution provider in the U.S. payer compliance market, amongst other client sectors, Smile Digital Health is at the forefront of transforming how healthcare data is managed, integrated, and shared. Powered by the Fast Healthcare Interoperability Resources (FHIR) standard, Smile 's platform is recognized as the fastest and most advanced solution for organizations across the healthcare ecosystem-from insurers and providers to government agencies.

"This financing will help us further scale our offerings and accelerate our mission to improve healthcare data interoperability and AI-powered solutions," said Duncan Weatherston, CEO of Smile Digital Health. "We are excited to partner with FirePower Capital as we continue to expand our Health Data Platform, Clinical Reasoning, and CMS compliance solutions-critical areas driving innovation in healthcare. With their support, we are poised to meet the growing demand for scalable, secure, and efficient healthcare data solutions."

Smile 's solutions are critical to improving data interoperability, reducing administrative burdens, and driving better clinical and business outcomes. The financing will enable the company to expand its core offerings, including its Health Data Platform (HDP), Clinical Reasoning tools, Digital Quality Measures, and CMS-related solutions, such as electronic Prior Authorization. This will support healthcare organizations in streamlining data workflows, improving decision-making, and enhancing patient care.

"FirePower Capital is proud to support Smile Digital Health 's vision to transform healthcare data management," said Trevor Simpson, Partner, Private Debt at FirePower Capital. "The team at Smile has demonstrated exceptional leadership and a clear commitment to innovation. We 're confident this financing will enable them to continue breaking new ground in the healthcare technology space."

With this new financing, Smile Digital Health will enhance its platform, expand its market presence, and scale operations to meet the evolving needs of healthcare organizations. These efforts will be critical to Smile 's ongoing success as the company continues to lead the charge in redefining how health data is managed, accessed, and utilized.

"Looking ahead, we are more confident than ever in our position as a leader in healthcare technology," added Weatherston. "This partnership not only provides the resources to scale but also gives us the strategic advantage to deliver even greater value to our customers and stakeholders. The future of healthcare data is bright, and Smile Digital Health is proud to be at the forefront of this transformation on our mission to provide #BetterGlobalHealth."

Smile Digital Health legal advisors in conjunction with this financing were Davies Ward Phillips & Vineberg LLP. FirePower Capital 's legal advisors in conjunction with this financing were a cross border team from DLA Piper.

About Smile Digital Health
Smile Digital Health is the world leader in FHIR-based health data solutions, providing the most advanced platform for managing and exchanging healthcare data. Smile helps healthcare organizations drive better patient outcomes, improve operational efficiency, and foster deeper collaboration across the healthcare ecosystem. As the leading solution provider in the U.S. payer compliance market, Smile is dedicated to transforming how health data is accessed, shared, and utilized globally.

About FirePower Capital
FirePower Capital is the private capital and M&A advisory firm built for Canada 's entrepreneurs. Our team of 70+ professionals helps mid-market business owners complete mission-critical transactions by advising them or investing in their companies directly. www.firepowercapital.com

For more information, visit www.smiledigitalhealth.com.

Media Contact:
Jenifer Baird
Smile Digital Health
Phone: +1 877 537 3343
Email: jenifer.baird@smiledigitalhealth.com

SOURCE: Smile CDR Inc. (doing business as Smile Digital Health)

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