Heartflow, a supplier of cardiac imaging software, has applied for an IPO on the U.S. stock market, aiming to raise 100 million dollars.

Heartflow, a provider of imaging and diagnostic software focused on coronary artery disease assessment, has submitted an application to the U.S. Securities and Exchange Commission (SEC) on Thursday to raise up to $100 million in funding through an initial public offering (IPO). Heartflow offers a non-invasive solution for diagnosing and managing coronary artery disease (CAD). As of March 31, 2025, the Heartflow platform has been used to assess over 400,000 patients with coronary artery disease, with 132,000 patients benefitting in just the year 2024 alone. This innovative platform uses artificial intelligence and advanced computational fluid dynamics technology to create personalized 3D models of a patient's heart, providing actionable insights on blood flow, vessel narrowing, plaque volume, and plaque composition. The company, based in Mountain View, California, was founded in 2007 and generated revenue of $136 million in the 12 months ending on March 31, 2025. The company plans to list on the NASDAQ under the ticker symbol HTFL. Heartflow confidentially submitted its IPO application on February 6, 2025, with J.P. Morgan, Morgan Stanley, and Piper Sandler serving as joint bookrunners for the transaction. The pricing terms have not yet been disclosed by the company.