ETERNO, a Berlin-based healthcare technology company, has secured a significant investment from Verdane for the expansion of its AI-native platform for outpatient care. The investment underscores the increasing importance of modernising one of Europe’s most fragmented and under-digitalised sectors.
Across Europe, healthcare systems remain heavily constrained by administrative inefficiencies. Doctors spend up to one full day per week on documentation, billing and other non-clinical tasks which reduces the time available for patient care.
At the same time, artificial intelligence is fundamentally reshaping outpatient healthcare and exposing the structural limitations of legacy software systems built for documentation and billing. As physicians operate in increasingly complex, data-rich environments, the next generation of healthcare infrastructure must evolve into open, interoperable and AI-native platforms capable of automating workflows, supporting clinical decision-making and orchestrating care operations in real time across the entire outpatient ecosystem.
Yet the underlying technology stack in practices remains fundamentally outdated. In Germany alone, more than 170,000 outpatient physicians still rely on fragmented legacy systems, with an estimated 97% of practice management software running on premise rather than in the cloud. Across Europe, around 2 million doctors work in outpatient care yet digital infrastructure remains highly fragmented and outdated.
“We believe outpatient care is undergoing one of the largest infrastructure shifts in decades – moving from fragmented legacy software toward open, AI-native operating systems that will redefine how care is delivered,” said Maximilian Waldmann, Founder and CEO of ETERNO.
ETERNO offers its AI-native operating system for doctors, ETERNO Cloud. The system is an open, fully integrated, cloud-based platform that automates administrative workflows end-to-end, from patient access and clinical documentation to billing and analytics.
With a team of more than 150 employees, the partnership with Verdane will allow ETERNO to scale its platform and to expand technological leadership, accelerate commercial rollout and pursue selective strategic acquisitions.
With Verdane, ETERNO has partnered with one of Europe’s leading growth investors, known for its strong track record in building and scaling category-leading platforms. Verdane brings deep operational expertise and a data-driven approach to value creation, supporting high-growth companies through their next phase of expansion.
Dominik Schwarz, Partner at Verdane, said: “Eterno is exactly in the sweet spot of Verdane’s investment focus. The company addresses a structural inefficiency in one of Germany’s most important and undersupplied markets, and has developed a product that resonates strongly with physicians. The combination of zero churn, a rapidly growing enterprise pipeline and a market that is still at the very beginning of cloud adoption underpins our conviction in the opportunity ahead. We look forward to supporting Max, Fredo and their team as they build a leading practice management platform in Germany.”
Maximilian Waldmann, Founder and CEO of ETERNO added: “For decades, outpatient care has been dominated by fragmented and closed legacy systems that were never designed for artificial intelligence. At the same time, healthcare generates vast amounts of valuable data that remain trapped across disconnected systems – limiting patient outcomes. At ETERNO, we believe the future of healthcare will be built on open and sovereign AI-native platforms that can securely connect workflows, medical records, devices and third-party apps across the ecosystem. Our ambition is to become the foundational infrastructure layer for outpatient care – enabling providers and AI builders to operate within one of Europe’s most complex and highly regulated markets. With Verdane, we have found a strong partner who combines long-term thinking with deep experience in scaling category-defining technology platforms.”
About Verdane
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. The flexible mandates of Verdane funds allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.
Verdane has raised €10 billion in capital and its funds have made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 180 investment professionals and operating experts is based out of Berlin, Copenhagen, London, Helsinki, Munich, Oslo and Stockholm and combines deep sector expertise with long-standing local networks and presence in core European markets.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
About ETERNO
ETERNO was founded in 2019 by Maximilian Waldmann and Frederic Haitz and is a German healthcare technology company headquartered in Berlin. The company builds an AI-native operating system for doctors and therapists – a fully integrated, cloud-based platform that manages the entire patient journey, from patient access and clinical documentation to billing and analytics. By embedding artificial intelligence and deep system integration, ETERNO enables healthcare providers to significantly reduce administrative workload and improve care delivery. Today, more than 2,000 doctors across Germany rely on ETERNO Cloud in their daily practice operations.
Further information: http://www.eterno.group
