HeartFlow, Inc., a Redwood City, Calif.-based medical technology company focused on heart disease, closed its $240m Series E financing.
Backers included Wellington Management, Baillie Gifford & Company and existing investors.
The company will use the proceeds from this financing to ramp up commercial expansion of the HeartFlow® FFRct Analysis, continued technology innovation and additional clinical studies.
Led by John H. Stevens, M.D., president and chief executive officer, HeartFlow provides the HeartFlow Analysis, a non-invasive technology that creates a personalized 3D model of the heart to enable clinicians to diagnose and treat patients with suspected heart disease.
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.