Signify Premium Insight: Hyperfine: Nascency to NASDAQ in One Fell Swoop

The MRI market is one which appears ripe for disruption. It is very consolidated, it is stable, and has long been dominated by just a handful of vendors, with Siemens Healthineers, GE Healthcare, Philips, Fujifilm Healthcare and Canon Medical Systems accounting for more than 90% of the market. Recently, however, a new name has come to the fore, with Hyperfine, which was founded in 2014, gaining ground. In 2020, the vendor became the first in the world to receive FDA clearance for a portable MRI system courtesy of its Swoop offering, and now the vendor is set to go public in a listing which values the vendor at $580m. Under the arrangement, Hyperfine, along with brain monitoring specialist Liminal Sciences, are set to be acquired by Catalio and HealthCor which have formed a special-purpose acquisition company (SPAC) for the purposes of the deal.