Heartflow Charts NYSE Debut IPO Via $2.4B SPAC Deal
Heartflow Holding Inc (NYSE: HFLO) aims to bring its noninvasive, artificial intelligence (AI)-based test for coronary heart disease to more doctors and patients via a SPAC merger with Longview Acquisition Corp II (NYSE: LGV).
Once the deal, valued at an enterprise value of about $2.4 billion, is complete, the resulting public company will operate under HeartFlow's banner with the NYSE ticker HFLO.
The company offers a test that uses artificial intelligence to build an individualized map of each patient's cardiovascular anatomy and function to diagnose coronary artery disease.
The merger is expected to close in the fourth quarter of this year, pending customary conditions and SEC approval.
Longview II is backed by Glenview Capital Management, which previously merged its elder Longview Acquisition Corp with the portable ultrasound maker Butterfly Network Inc (NYSE: BFLY) in a $1.5 billion SPAC deal completed earlier this year.
The solution allows cardiologists to determine the severity of a coronary blockage without requiring an invasive cardiac catheterization.
Price Action: LGV shares are trading higher by 0.41% $9.90 in the market session on the last check Friday.
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