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Healthcare tech-focused SPAC Compute Health Acquisition files for a $750 million IPO

January 20, 2021

Compute Health Acquisition, a blank check company targeting the intersection of computation and healthcare, filed on Wednesday with the SEC to raise up to $750 million in an initial public offering.

The Wilmington, DE-based company plans to raise $750 million by offering 75 million units at $10. Each unit will consist of one share of common stock and one-fourth of a warrant, exercisable at $11.50. Medical device company Medtronic has indicated interest in purchasing 1.5 million units in the offering. At the proposed deal size, Compute Health Acquisition would command a market value of $938 million.

The company is led by Chairman Dr. Omar Ishrak, who currently serves as the Chairman of Intel (Nasdaq: INTC) and previously served as CEO of Medtronic. He is joined by Co-CEO and Director Jean Nehmé, who co-founded Digital Surgery in 2011, and Co-CEO and Director Joshua Fink, who is the Managing Partner of private investment company Ophir Holdings. Compute Health Acquisition intends to focus on opportunities that are emerging at the intersection of computation and healthcare, with a particular focus on how data access, artificial intelligence, algorithms, and computational power feed innovation in the healthcare industry.

Compute Health Acquisition was founded in 2020 and plans to list on the NYSE under the symbol CPUH.U. It filed confidentially on November 20, 2020. Goldman Sachs is the sole bookrunner on the deal.