A non-invasive cardiac test, HeartFlow FFRCT Analysis is indicated for stable symptomatic CAD patients. Credit: Robina Weermeijer on Unsplash.

HeartFlow has signed a definitive business combination agreement worth about $2.8bn with special purpose acquisition company (SPAC) Longview Acquisition Corp II.

The move to make HeartFlow public will aid the company in expediting adoption and funding its goal of improving the precision heart disease care continuum.

The deal values the company at a preliminary pro forma enterprise value of nearly $2.4bn and an entirely distributed equity value of about $2.8bn at signing.

The transaction is anticipated to offer up to $599m of gross proceeds to boost growth and allow the company to buy back up to $110m of equity from long-term stakeholders and employees.

Established in 2010, HeartFlow focuses on offering precision heart care through non-invasive, customised cardiac tests and software solutions for heart diseases.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

A core product of the company, HeartFlow FFRCT Analysis is a non-invasive cardiac test indicated for stable symptomatic coronary artery disease (CAD) patients.

It generates a digital and tailored three-dimensional model of the heart as well as offering computed tomography angiogram-derived Fractional Flow Reserve (FFRCT) values along the coronary arteries.

This data can be used to understand the severity of the coronary blockage and aid in choosing the most suitable therapy for patients.

The test has received regulatory approval in the US, EU, UK and Japan and is marketed in these regions.

HeartFlow board of directors chairman William Weldon said: “This partnership with Longview and the company’s existing investors will propel HeartFlow to further assist physicians in diagnosing, managing and delivering precision care to patients with CAD.”

On concluding the acquisition, the merged company will run as HeartFlow Group.

The deal will offer the new company nearly $400m in cash for growth capital, developing products and other corporate needs.

Subject to the necessary approval, including a declaration from the US Securities and Exchange Commission, the merger is set to conclude in the fourth quarter of the year.

Both the board of directors of Longview, which is funded by Glenview Capital Management affiliates, and HeartFlow have approved the acquisition.

Last month, Pear Therapeutics entered a definitive business combination agreement with a SPAC, Thimble Point Acquisition, to become a public company.