Mentioned:
There’s a new medical technology company on the Nasdaq. And they’re using artificial intelligence to change the future of coronary artery disease.
What’s happening:
- Medical technology company Heartflow (NASDAQ: HTFL) has successfully raised $317M USD in an IPO financing round and begun trading on the Nasdaq
- The IPO financing round was led by J.P. Morgan, Morgan Stanley and Piper Sandler
By the numbers:
- Heartflow’s IPO financing round valued the company at roughly $1.59B USD
Why it matters:
- Heartflow has developed one of the world’s most advanced artificial intelligence powered technologies for creating personalized 3D heart models from a single CT scan to determine the health of coronary arteries
Going deeper:
- Heartflow’s technology is currently being used in more than 1,400 medical institutions globally and also was just recently granted Medicare coverage in the United States
- Some of the largest venture capital funds in medical technology and healthcare were early investors in Heartflow, including Bain Capital Life Sciences, Wellington Management and Janus Henderson Investors
Market reaction:
- Shares of Heartflow surged more than +51% in their first day of trading
