HeartFlow Holding Inc and a special purpose acquisition company, Longview Acquisition Corp II (NYSE:LGV), have called off merger plans that would have taken the cardiac test company public.
- HeartFlow described the move as a mutual decision a "result of current unfavorable market conditions."
- Affiliates of Glenview Capital Management sponsored Longview.
- When HeartFlow and Longview announced the SPAC deal plans in July 2021, the merger was valued at $2.4 billion, with an estimated $400 million in cash after closing.
- HeartFlow anticipated $599 million of gross proceeds to accelerate the growth of its non-invasive, personalized cardiac tests.
- The company's non-invasive HeartFlow FFRCT analysis uses artificial intelligence to create a personalized three-dimensional heart model.
- Clinicians can use the model to evaluate the impact a blockage has on blood flow and determine the best treatment for patients.
- The company's HeartFlow Analysis is commercially available in the U.S., the U.K., Canada, Europe, and Japan.
- Price Action: LGV shares closed 0.21% higher at $9.73 on Friday.