HeartFlow was founded in 2007 by Charles Taylor and Christopher Zarins. Throughout 2021 and 2022, HeartFlow has taken significant steps towards going the public, ultimately deciding to terminate a $2.4 billion SPAC deal in February 2022, citing "current unfavorable market conditions." This is only one recent example of a medical technology company encountering challenges in the SPAC process. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
According to Fierce Biotech, "HeartFlow is developing a test for coronary artery disease that uses deep learning artificial intelligence algorithms to analyze coronary CT angiograms." In March 2022, the company announced that John Farquhar – the former COO, president, and board member – has been appointed CEO. HeartFlow has raised over $530 million in funding from investors including Panorama Point Partners, Wellington Management, Rancilio Cube, and Martis Capital. As of the last funding round, which brought in over $240 million, HeartFlow has arrived at a post-money valuation of $1.5 billion.