HeartFlow Closes $215 Million in Series F Funding

April 6, 2023—HeartFlow, Inc. announced the close of a $215 million Series F funding round by its parent company, HeartFlow Holding, Inc. The company stated that the new funding will enable it to meet the commercial demand for its products, support a body of clinical evidence, and advance its comprehensive product portfolio to help physicians to diagnose coronary artery disease (CAD) and guide their treatment decisions.

The funding was led by Bain Capital Life Sciences with participation from new investor, Janus Henderson Investors, and existing investors including Baillie Gifford, Capricorn Investment Group, Hayfin Capital Management, HealthCor, Martis Capital, USVP, and Wellington Management.

According to HeartFlow, the financing follows recent activity for its product:

• In November, the company announced results from the PRECISE trial were presented as late-breaking clinical data at the American Heart Association Scientific Sessions 2022, held November 5-7 in Chicago, Illinois. The data showed that evaluating patients with suspected CAD by applying advanced artificial intelligence to coronary CTA (CCTA) allows for more accurate noninvasive diagnosis, reduces unnecessary testing, and offers higher confidence in identifying patients needing treatment.
• In October, the company received FDA clearances for noninvasive coronary artery anatomy (RoadMap analysis) and plaque information (Plaque analysis) based on CCTA that were added to the company's physiology product (HeartFlow fractional flow reserve derived from CT [FFR_CT]). These products enable physicians to gain more understanding of a patient’s CAD and are a comprehensive approach to predict risk of a heart attack.
• CCTA and FFR_CT were recognized by the American College of Cardiology/American Heart Association Chest Pain Guidelines, published in October 2021. HeartFlow’s FFR_CT technology is covered by 100% of Medicare and over 98% of commercial payers.

“HeartFlow has built a strong intellectual property portfolio, brought to market the only combined anatomy, physiology, and plaque analysis to help diagnose and treat heart disease, and is now in over 725 hospital systems worldwide with over 180,000 patients served to date,” commented John Farquhar, Chief Executive Officer of HeartFlow. “The oversubscription of our Series F funding round, particularly in the current market backdrop, is a strong validation of our technology, our team, and the opportunity in front of us. We appreciate the support of our investors, both existing and new, who share HeartFlow’s vision to build a new standard of care for people at risk of heart disease.”