Innovative Ventures Secures $98 Million Convertible Notes Financing

HeartFlow Closes $98 Million Convertible Notes Financing

San Francisco, CA - March 25, 2023 - HeartFlow, Inc., a medical technology company developing and commercializing innovative diagnostic and therapeutic solutions, today announced that it has closed a $98 million convertible notes financing.

The financing, which was led by new investors including funds managed by BlackRock, was joined by existing investors, including Franklin Templeton, RA Capital Management, and other institutional investors. The convertible notes financing will be used to support the continued growth and development of HeartFlow's FFR-CT technology, which is designed to provide a more accurate and minimally invasive diagnosis of coronary artery disease.

"We are thrilled to have secured this significant financing, which will enable us to further accelerate the adoption of our FFR-CT technology and expand our commercial efforts," said Dr. Jonathan Libber, HeartFlow's CEO. "This funding will also support our ongoing clinical trials and regulatory efforts, as we work to bring this life-changing technology to patients worldwide."

FFR-CT is a revolutionary diagnostic technology that uses a proprietary algorithm to analyze cardiac CT scans and provide a comprehensive assessment of coronary artery disease. The technology has been shown to be highly accurate and has the potential to improve patient outcomes by reducing the need for invasive procedures and improving treatment planning.

"We believe that HeartFlow's FFR-CT technology has the potential to transform the diagnosis and treatment of coronary artery disease, and we are excited to support the company's continued growth and development," said a representative from one of the new investors.

HeartFlow's FFR-CT technology is currently available in the United States and has been used to diagnose and treat thousands of patients. The company is planning to expand its commercial efforts in Europe and other regions in the coming months.

About HeartFlow

HeartFlow, Inc. is a medical technology company developing and commercializing innovative diagnostic and therapeutic solutions for the diagnosis and treatment of coronary artery disease. The company's FFR-CT technology is designed to provide a more accurate and minimally invasive diagnosis of coronary artery disease, and has been shown to be highly effective in identifying patients who are at risk of adverse cardiovascular events. For more information, please visit www.heartflow.com.