Longview Acquisition Corp. II and HeartFlow, a health technology company, based in California, have pledged to unite and form a publicly traded company. The name HeartFlow Group will be used for the combined entity post the finalization of the transaction and will be listed on the New York Stock Exchange as 'HFLO'. As a result, $400 million in cash will be acquired by the new-look company. Product development, growth, and corporate investments will be made by the company using these funds. $2.4 billion is the initial pro forma value assigned through the deal to HeartFlow.
HeartFlow focuses on cardiac care and is noted for its endeavors in patient care, cardiac imaging, and artificial intelligence (AI). It was established around eleven years ago. Symptomatic patients with coronary artery disease are assessed using its HeartFlow FFRCT. As a result, the diagnosis, treatment, and management of patients with cardiac diseases can be done with high accuracy with HeartFlow Analysis, the first and only non-invasive tool available. It also reduces the cost of care by decreasing unnecessary invasive angiograms.
John H. Stevens, MD, president, co-founder, and CEO of HeartFlow, said in a prepared statement that overall cardiovascular care comprising diagnosis, risk evaluation, planning, and treatment could be transformed by the AI-enabled, non-invasive, cloud-based software solution provided by the company.
William C. Weldon, chairman of the HeartFlow board of directors, further added that democratizing access to their extraordinary technology and managing cardiac disease patients with excellent care is intended by the HeartFlow team. The physicians will be aided in the diagnosis, management, and delivery of optimum care to coronary artery disease patients through this partnership with Longview and its existing investors. Blue Venture Fund, Wellington Management, HealthCor Partners, and Baillie Gifford are the current institutional shareholders.
Longview Acquisition Corp. II:
Glenview Capital Management sponsors the special purpose acquisition company (SPAC), Longview. Longview Acquisition Corp. I is Glenviews's first SPAC. A similar deal has been completed by Longview Acquisition Corp. I with Butterfly Network, a point-of-care ultrasound manufacturer.