Financing will further drive commercial scale for HeartFlow’s AI-enabled portfolio of precision heart care products
MOUNTAIN VIEW, Calif., April 06, 2023 (GLOBE NEWSWIRE) -- HeartFlow, Inc., the leader in revolutionizing precision heart care, today announced the close of a $215 million Series F funding round by its parent company HeartFlow Holding, Inc., led by Bain Capital Life Sciences with participation from new investor Janus Henderson Investors, and existing investors including Baillie Gifford, Capricorn Investment Group, Hayfin Capital Management, HealthCor, Martis Capital, USVP and Wellington Management. This new funding will enable HeartFlow to meet the growing demand for its commercial products, support a robust body of growing clinical evidence and advance its comprehensive product portfolio to help physicians to diagnose coronary artery disease (CAD) and guide their treatment decisions.
The financing follows a period of remarkable growth for HeartFlow. Coronary computed tomography angiography (CCTA) and FFRCT have already been recognized by the recent ACC/AHA Chest Pain Guidelines, and HeartFlow’s FFRCT technology is covered by 100% of Medicare and over 98% of commercial payers. With the recent FDA clearance of new products, the company is the first and only company to provide non-invasive coronary artery anatomy (RoadMap™ analysis), physiology (HeartFlow® FFRCT) and plaque information (Plaque analysis) based on CCTA. These products enable physicians to gain more understanding of a patient’s CAD and are the most comprehensive approach to predict risk of a heart attack.1
“HeartFlow has built a strong intellectual property portfolio, brought to market the only combined anatomy, physiology and plaque analysis to help diagnose and treat heart disease, and is now in over 725 hospital systems worldwide with over 180,000 patients served to date,” said John Farquhar, Chief Executive Officer of HeartFlow. "The oversubscription of our Series F funding round, particularly in the current market backdrop, is a strong validation of our technology, our team and the opportunity in front of us. We appreciate the support of our investors, both existing and new, who share HeartFlow's vision to build a new standard of care for people at risk of heart disease.”
“HeartFlow is a leader in precision heart care and its AI-enabled products promise to help physicians more effectively diagnose and treat heart disease, which continues to be the leading cause of death in the U.S.,” said Nicholas Downing, M.D., a Managing Director at Bain Capital Life Sciences. “We look forward to supporting the company’s commitment to improving cardiovascular care for patients as it heads into this exciting next chapter of growth.”
The HeartFlow product pipeline is expected to continue to propel the company’s position as a precision diagnostics leader. HeartFlow’s additional product launches will enable the company to further support physicians in their commitment to improve cardiovascular patient outcomes.
J.P. Morgan acted as sole placement agent to HeartFlow.
HeartFlow is the global leader in revolutionizing precision heart care, uniquely combining human ingenuity with advanced AI technology. Headquartered in Mountain View, California, our technology has been published in more than 500 peer-reviewed publications that showcase the value of anatomy, physiology and plaque. We began our journey to improve CAD diagnosis with FFRCT and have now expanded our product portfolio to include anatomic stenosis and plaque information. To date, clinicians have used our technology for over 180,000 patients to aid in the diagnosis of heart disease. For more information, visit www.heartflow.com and connect on Twitter and LinkedIn.
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1 Emerald I - Lee, et al. JACC Imaging 2019.