Compute Health Acquisition, a blank check company targeting the intersection of computation and healthcare, raised $750 million by offering 75 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. Medical device company Medtronic and the Public Investment Fund of Saudi Arabia had indicated on an aggregate 9 million units in the offering.
The company is led by Chairman 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 plans to list on the NYSE under the symbol CPUH.U. Goldman Sachs acted as a lead manager on the deal.
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