Heartflow, which offers imaging and diagnostics software for evaluating coronary artery disease, raised the proposed deal size for its upcoming IPO on Wednesday.
The Mountain View, CA-based company now plans to raise $292 million by offering 16.7 million shares at a price range of $17 to $18. The company had previously filed to offer 12.5 million shares at a range of $15 to $17. At the midpoint of the revised range, Heartflow will raise 46% more in proceeds than previously anticipated.
Heartflow offers a non-invasive solution for diagnosing and managing coronary artery disease (CAD). As of March 31, 2025, the Heartflow Platform has been used to assess CAD in more than 400,000 patients, including 132,000 in 2024 alone. The novel platform leverages AI and advanced computational fluid dynamics to create a personalized 3D model of a patient's heart and deliver actionable insights on blood flow, stenosis, plaque volume, and plaque composition.
Heartflow was founded in 2007 and booked $136 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol HTFL. J.P. Morgan, Morgan Stanley, and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of August 4, 2025.
