HeartFlow has entered into a definitive business combination agreement with Longview Acquisition Corp, a special purpose acquisition company sponsored by affiliates of Glenview Capital Management. Upon completion of the proposed transaction, the combined company will operate as HeartFlow Group and is expected to be listed on the New York Stock Exchange under the symbol HFLO. The transaction will also provide the combined company with an estimated US$400 million in cash for growth capital, product development and general corporate purposes.
HeartFlow’s core product, the HeartFlow FFRCT Analysis, is a non-invasive cardiac test for stable symptomatic patients with coronary artery disease (CAD). Using a standard coronary computed tomography angiogram (CTA), the HeartFlow Analysis creates a digital, personalised 3D model of the heart and provides CTA-derived fractional flow reserve (FFRCT) values along the coronary arteries. This information helps physicians understand the degree to which a coronary blockage is impeding blood flow to the heart and determine the best treatment for each patient.
The HeartFlow Analysis has regulatory clearance and is commercially available in the USA, the European Union, the UK and Japan.
“We believe that our non-invasive, artificial intelligence-enabled, cloud-based enterprise software solution can transform cardiovascular care with risk assessment, diagnosis planning and treatment management,” said John H Stevens, president, CEO and co-founder of HeartFlow. “Importantly, we have brought together a talented group of individuals with deep expertise in technology, cardiovascular medicine, and the business of healthcare and a deep commitment to patients to deliver on this vision. I’m incredibly proud of the HeartFlow team in reaching this important milestone.”
“We are thrilled to co-invest with the associates, leadership and shareholders of HeartFlow to promote rapid adoption of their life-saving, revolutionary approach to cardiac evaluation,” said Larry Robbins, chairman of Longview and CEO of Glenview. “For us, HeartFlow’s compelling investment attributes leapt off the page: addressing a massive unmet medical need with proprietary, innovative technology through a highly attractive business model that experts widely cite as delivering superior patient outcomes at lower systemic costs.”
