Wara Samar
11th October 2024
Simmons & Simmons’ Camille Saettel on Luxembourg’s Role in Technology and Healthcare
Luxembourg has become an important location for cross-border operations and investments in Europe, particularly in the areas of technology and healthcare. Camille Saettel, who leads the Technology, Media, and Telecommunications (TMT) and Healthcare & Life Sciences at Simmons & Simmons in Luxembourg, offers insights into how the country’s regulatory environment supports innovation.
Regulation and Business: A Pragmatic Approach
At a recent Luxembourg Roadshow panel on “MedTech in Luxembourg: Innovating Locally, Competing Globally,” Saettel discussed the importance of balancing regulation with business needs. She noted that Luxembourg’s regulatory system is designed to be accessible, helping businesses navigate complex legal requirements.
“In Luxembourg, the regulator is accessible, and that helps companies get the support they need to operate effectively,” Saettel said. She pointed out that while Luxembourg is proactive in its regulatory frameworks, it also learns from the experiences of other countries to stay competitive.
European Health Data Space and AI in Healthcare
Saettel also spoke about the European Health Data Space (EHDS), a new EU regulation aimed at harmonizing electronic health data use across member states. She explained that while this regulation could help drive innovation by increasing access to health data, its full implementation may take several years.
In addition, Saettel highlighted the role of artificial intelligence (AI) in healthcare, noting the upcoming AI Act that introduces regulations for AI applications. “AI has a lot of potential in healthcare, but regulations will need to ensure its safe and transparent use,” she remarked.
Simmons & Simmons’ Role in Luxembourg
Since its establishment in 2015 in Luxembourg, Simmons & Simmons has been involved in a range of legal matters, particularly in finance, technology, and healthcare. The firm advises on banking, finance, corporate, and regulatory issues, providing support to businesses navigating the country’s evolving regulatory landscape.
As Luxembourg continues to develop as a center for technology and healthcare, regulatory discussions around the European Health Data Space and AI will be important areas for businesses to follow. Saettel’s insights reflect the ongoing efforts to balance innovation with responsible regulation in these sectors.
Upcoming: MedTech Malta 2024
MedTech Malta 2024 is approaching, bringing together innovative startups, leading investors, and key professionals from the medtech industry. Hosted in Valletta from November 6-8, this flagship event by MedTech World provides a valuable opportunity to engage with top experts in healthcare innovation. Be sure to connect with industry leaders—reserve your tickets now!