(Reuters) -Heartflow’s quarterly loss widened over the year-ago period, the healthcare company disclosed in its paperwork for a U.S. initial public offering on Thursday, at a time when it looks to tap into renewed investor appetite for new listings. The U.S. IPO market is recovering from months of sluggish activity triggered by trade policy uncertainty […]
Health
Healthcare firm Heartflow’s IPO filing discloses wider loss
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(Reuters) -Heartflow’s quarterly loss widened over the year-ago period, the healthcare company disclosed in its paperwork for a U.S. initial public offering on Thursday, at a time when it looks to tap into renewed investor appetite for new listings.
The U.S. IPO market is recovering from months of sluggish activity triggered by trade policy uncertainty under President Donald Trump. Both Omada, a virtual healthcare provider, and cancer diagnostic firm Caris Life Sciences saw strong investor reception when they debuted last month.
Mountain View, California-based Heartflow posted a loss of $32.3 million for the three months ended March 31, compared with a loss of $20.9 million a year earlier, the IPO filing showed.
Its revenue was $37.2 million for the quarter, compared with $26.8 million a year ago.
Proceeds from the IPO will be used to pay down debt, fund sales and marketing, research and product development activities and other general corporate purposes, the company said.
Heartflow develops an artificial intelligence-powered heart imaging tool, which creates personalized 3D models of the organ, helping doctors detect blockages, minimize unnecessary testing and optimize treatment.
The company will list on the Nasdaq under the symbol “HTFL”.
J.P. Morgan, Morgan Stanley and Piper Sandler are among the underwriters for the offering.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shilpi Majumdar)