HeartFlow Completes Series E Financing, Securing $240 Million

Monday, November 30, 2020

HeartFlow has made significant progress in developing and commercializing its pioneering non-invasive technology.

The HeartFlow Analysis has been used by clinicians at more than 80 medical institutions around the globe. In the United States, several commercial payers issued positive coverage decisions and the Centers for Medicare & Medicaid Services (CMS) assigned a New Technology APC payment for the HeartFlow Analysis. Additionally, the National Institute for Health and Care Excellence (NICE) in the U.K. issued a positive guidance recommendation for the use of the HeartFlow Analysis.

“We are delighted to be investing in HeartFlow on behalf of our clients,” said Peter Singlehurst, investment manager at Baillie Gifford & Company. “Heart disease is the leading cause of death globally, in part owing to the difficulties around diagnosis. The HeartFlow Analysis improves patient experience and outcomes, whilst also reducing costs for overstretched healthcare systems — a dual objective that many healthcare companies strive for but few achieve. The underlying technology developed by HeartFlow also has the potential for broader applications for heart disease and other conditions. The capital raised here will enable HeartFlow to push forward with commercialization and invest for long-term success by continuing to advance the ways in which it can help patients and physicians.”

Coronary artery disease (CAD) affects 400 million people globally,1 and develops when the coronary arteries narrow, reducing blood flow to the heart and causing chest pain (angina), heart attack (myocardial infarction) and death. The HeartFlow Analysis is the first and only commercially available non-invasive technology to provide insight into both the extent of CAD and the impact of the disease on blood flow to the heart.

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