Healthcare-focused SPAC Healthcare Capital Corp. files for a $200 million IPO

Healthcare Capital Corp., a blank check company targeting the healthcare industry, filed on Monday with the SEC to raise up to $200 million in an initial public offering.

The Wilmington, DE-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Healthcare Capital Corp. will command a market value of $250 million.

The company is led by Chairman David Milch, who has been an independent life sciences and tech investor for the past 30 years; CEO and Director William Johns, the founder and CEO healthcare-focused software firm National Provider Network; and CFO Philip Baseil, who previously served as COO of the Tradex Division at Cardinal Health (NYSE: CAH). Healthcare Capital Corp. plans to target the healthcare industry, with a focus on digital and telehealth, life sciences, innovative medical devices, and healthcare technology.

Healthcare Capital Corp. was founded in 2020 and plans to list on the Nasdaq under the symbol HCCCU. Cantor Fitzgerald is the sole bookrunner on the deal.