After the merger is completed, it is worth 2.4 billion U.S. dollars, plus approximately 400 million U.S. dollars in cash. The transaction is expected to provide HeartFlow with a total revenue of up to 599 million U.S. dollars to accelerate the development of its non-invasive, personalized cardiac test.
HeartFlow President, CEO and co-founder John Stevens said in a press release: “We believe that our non-invasive, artificial intelligence-supported, cloud-based enterprise software solutions can pass risk assessment, diagnosis Planning and treatment management to change cardiovascular care.”. “It is important that we bring together a group of talents with deep expertise in technology, cardiovascular medicine, and healthcare business, and are committed to realizing this vision for patients. I I am extremely proud of the HeartFlow team reaching this important milestone.”
Through this transaction, the combined company will operate as HeartFlow Group and is expected to be traded on the New York Stock Exchange under the symbol HFLO.
“We are pleased to invest with HeartFlow employees, leadership, and shareholders to promote the rapid adoption of their life-saving, revolutionary cardiac assessment methods,” said Longview Chairman Larry Robbins. “For us, HeartFlow’s compelling investment attributes are clearly on paper: through an attractive business model, and through proprietary innovative technologies to solve a large number of unmet medical needs, experts generally believe that this model has a lower cost System cost provides superior patient results.”
HeartFlow developed the HeartFlow FFRCT analysis, a non-invasive cardiac test for patients with stable coronary artery disease. It was approved by the FDA in September 2019.
The Redwood City, California-based company plans to expand its addressable market opportunity to more than $50 billion through new products, the addition of new customer sites, and the use of HeartFlow in existing healthcare systems .
HeartFlow’s analysis software can create digital and personalized heart 3D models. It provides CTS-derived Fractional Flow Reserve (FFRCT) values along the coronary arteries to help doctors understand the severity of the coronary artery blockage that obstructs blood flow to the heart and determine the best treatment plan for the patient.
“The HeartFlow team is committed to providing the best care for heart patients and making this incredible technology popular,” said William Weldon, Chairman of HeartFlow. “The cooperation with Longview and the company’s existing investors will promote HeartFlow to further assist doctors in the diagnosis, management and provision of precision care for CAD patients.”
Prior to the HeartFlow transaction, Longview listed Butterfly Network at a price of US$859 million in February this year.
The merger is expected to be completed in the fourth quarter of this year, awaiting customary conditions and the approval of the US Securities and Exchange Commission.
Submitted as follows: big data, business/financial news, cardiovascular, features, financing roundups, health technology, initial public offerings (IPO), software/IT Tagged with: HeartFlow, Longview Acquisition Company, SPAC
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Post time: Dec-08-2021
