[Hyperfine] Hyperfine, Liminal Sciences, and HealthCor Catalio Acquisition Corp. Announce Effectiven
[Hyperfine]
GUILFORD,
CT – November 29, 2021 —
Hyperfine, Inc. (“Hyperfine”), creator of
the first FDA-cleared portable magnetic resonance imaging (MRI) device, Swoop®,
Liminal Sciences, Inc. (“Liminal”), a medical device development company
dedicated to non-invasive measurement of key vital signs in the brain, and
HealthCor Catalio Acquisition Corp. (“HealthCor”), a healthcare-focused special
purpose acquisition company (SPAC), today announced that the Securities and
Exchange Commission (“SEC”) has declared the Registration Statement on Form S-4
in connection with the proposed business combination between the companies to
be effective.
An extraordinary general meeting of
HealthCor shareholders (the “Special Meeting”) to approve, among other things,
the proposed business combination, will be held at the offices of Kirkland
& Ellis LLP, 609 Main Street, Suite 4700, Houston, Texas 77002 on December
21, 2021 at 10:00 a.m. Eastern Time. Shareholders may also attend the Special
Meeting and vote their shares electronically during the Special Meeting via live
webcast by visiting https://www.cstproxy.com/hcspac/2021. HealthCor also
announced today that it has filed with the SEC a definitive proxy
statement/prospectus relating to the Special Meeting, and will commence mailing
it on or about November 30, 2021 to its shareholders of record as of the close
of business on November 4, 2021.
About Hyperfine and the Swoop Portable MRI
System
Hyperfine was founded with a vision to save
lives by making Magnetic Resonance Imaging (MRI) more accessible and
affordable. The company’s Swoop® Portable MR Imaging SystemTM is designed to
address the limitations of current imaging technologies and make MRI accessible
anytime, anywhere, to any patient. Swoop wheels directly to the patient’s
bedside, plugs into a standard electrical wall outlet, and is controlled by an
Apple iPad®. Designed as a complementary system to traditional MRIs at a
fraction of the cost, images that display the internal structure of the head
are captured by Swoop at the patient’s bedside, with results in minutes,
enabling life-saving decision-making capabilities across a variety of clinical
settings.
Hyperfine received FDA clearance for its
portable MRI for the brain and head of patients of all ages in August 2020.
Since its launch in the fall of 2020, Swoop has been honored repeatedly, as one
of two finalists for the Best New Radiology Vendor of 2020 by Aunt Minnie, the
winner of the American College of Emergency Physicians (ACEP) 2020 incubatED
Medical Device Innovation Challenge, and with a Best Practices Product
Innovation Award from Frost & Sullivan, and most recently as a 2021
Innovation Awards Honoree from CES. Hyperfine is part of 4Catalyzer, a health
technology incubator with offices in Connecticut, New York, California, and
Taiwan.
Hyperfine was founded in 2014 by Dr.
Jonathan Rothberg, a serial entrepreneur who received the Presidential Medal of
Technology and Innovation in 2016 for inventing Next Generation DNA sequencing
and has founded multiple healthcare and technology companies, including 454 Life
Sciences, Ion Torrent, CuraGen, Butterfly Network, and Quantum-Si. For more
information, visit: https://hyperfine.io/.
About Liminal Sciences, Inc.
Liminal Sciences is committed to building a
device to non-invasively measure key vital signs in the brain to enable
unprecedented access to dramatically improve patient outcomes. Liminal was
founded in 2018 by Dr. Jonathan Rothberg. For more information, visit:
https://www.liminalsciences.com/.
About HealthCor Catalio Acquisition
Corp.
HealthCor Catalio Acquisition Corp.
(Nasdaq: HCAQ) is a blank check company formed for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses or entities. HealthCor
Catalio has stated a focus on the healthcare industry in the United States and
other developed countries, with particular interest in the life sciences and
medical technology sectors. For more information, visit:
http://www.hcspac.com/.
Important Information about the Business
Combination and Where to Find It
In connection with the proposed business
combination between HealthCor, Hyperfine and Liminal (the “Business
Combination”), HealthCor filed with the Securities and Exchange Commission (the
“SEC”) a registration statement on Form S-4 (as amended, the “Registration
Statement”), which includes the proxy statement/prospectus and certain other
related documents and is both the proxy statement distributed to holders of
HealthCor’s ordinary shares in connection with HealthCor’s solicitation of
proxies for the vote by HealthCor’s shareholders with respect to the Business
Combination and other matters as may be described in the Registration
Statement, as well as the prospectus relating to the offer and sale of the
securities of HealthCor to be issued in the Business Combination. The
Registration Statement was declared effective by the SEC on November 26, 2021,
and HealthCor will commence mailing the proxy statement/prospectus to its
shareholders on or about November 30, 2021. HealthCor’s shareholders and other
interested persons are advised to read the proxy statement/prospectus included
in the Registration Statement and the amendments thereto, as well as other
documents filed with the SEC in connection with the Business Combination, as
these materials contain important information about the parties to the Business
Combination Agreement and the Business Combination. Shareholders may also
obtain copies of the proxy statement/prospectus and other documents filed with
the SEC, without charge, at the SEC’s website at www.sec.gov. In addition, the
documents filed by HealthCor may be obtained free of charge from HealthCor’s
website at www.hcspac.com or by written request to HealthCor at ir@hccspac.com.
Participants in the Solicitation
HealthCor and its directors and executive
officers may be deemed participants in the solicitation of proxies from
HealthCor’s shareholders with respect to the Business Combination. You can find
information about HealthCor’s directors and executive officers and their
ownership of HealthCor’s securities in the Registration Statement for the
Business Combination, which is available free of charge at the SEC’s website at
www.sec.gov. Additional information regarding the interests of such
participants is contained in the Registration Statement.
Hyperfine, Liminal and their respective
directors and executive officers may also be deemed to be participants in the
solicitation of proxies from the shareholders of HealthCor in connection with
the Business Combination. A list of the names of such directors and executive
officers and information regarding their interests in the Business Combination
is contained in the Registration Statement.
Forward-Looking Statements
This press release includes
“forward-looking statements” within the meaning of the “safe harbor” provisions
of the Private Securities Litigation Reform Act of 1995. HealthCor’s,
Hyperfine’s and Liminal’s actual results may differ from their expectations,
estimates and projections and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words such as
“expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,”
“plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions (or the negative versions of such words or
expressions) are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, HealthCor’s,
Hyperfine’s and Liminal’s expectations with respect to future performance,
development and commercialization of products and services, anticipated
financial impacts and other effects of the Business Combination, the
satisfaction of the closing conditions to the Business Combination, the timing
of the completion of the Business Combination, and the potential benefits
of Hyperfine’s, Liminal’s and the combined company’s products and services.
These forward-looking statements involve significant risks and uncertainties
that could cause the actual results to differ materially from the expected
results. Most of these factors are outside HealthCor’s, Hyperfine’s and
Liminal’s control and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the ability of HealthCor,
Hyperfine and Liminal to meet the closing conditions in the Business
Combination Agreement, including due to failure to obtain approval of the
shareholders of HealthCor, Hyperfine and Liminal or certain regulatory
approvals, or failure to satisfy other conditions to closing in the Business
Combination Agreement; (2) the occurrence of any event, change or other
circumstances, including the outcome of any legal proceedings that may be
instituted against HealthCor, Hyperfine or Liminal following the announcement
of the Business Combination Agreement and the transactions contemplated
therein, that could give rise to the termination of the Business Combination
Agreement or could otherwise cause the transactions contemplated therein to
fail to close; (3) the inability to obtain or maintain the listing of the
combined company’s Class A common stock on the Nasdaq Stock Market, as
applicable, following the Business Combination; (4) the risk that the Business
Combination disrupts current plans and operations as a result of the announcement
and consummation of the Business Combination; (5) the inability to recognize
the anticipated benefits of the Business Combination, which may be affected by,
among other things, competition and the ability of the combined company to grow
and manage growth profitably and retain its key employees; (6) costs related to
the Business Combination; (7) changes in applicable laws or regulations; (8)
the inability of the combined company to raise financing in the future; (9) the
success, cost and timing of Hyperfine’s, Liminal’s and the combined company’s
product development and commercialization activities, including the degree that
Swoop is accepted and used by healthcare professionals; (10) the inability of
Hyperfine, Liminal or the combined company to obtain and maintain regulatory
clearance or approval for their products, and any related restrictions and
limitations of any cleared or approved product; (11) the inability of
Hyperfine, Liminal or the combined company to identify, in-license or acquire
additional technology; (12) the inability of Hyperfine, Liminal or the combined
company to maintain Hyperfine’s or Liminal’s existing or future license,
manufacturing, supply and distribution agreements; (13) the inability of
Hyperfine, Liminal or the combined company to compete with other companies
currently marketing or engaged in the development of products and services that
Hyperfine or Liminal is currently marketing or developing; (14) the size and
growth potential of the markets for Hyperfine’s, Liminal’s and the combined
company’s products and services, and each of their ability to serve those
markets, either alone or in partnership with others; (15) the pricing of
Hyperfine’s, Liminal’s and the combined company’s products and services and
reimbursement for medical procedures conducted using Hyperfine’s, Liminal’s and
the combined company’s products and services; (16) Hyperfine’s, Liminal’s and
the combined company’s estimates regarding expenses, future revenue, capital
requirements and needs for additional financing; (17) Hyperfine’s, Liminal’s
and the combined company’s financial performance; (18) the impact of COVID-19
on Hyperfine’s and Liminal’s businesses and/or the ability of the parties to
complete the Business Combination; and (19) other risks and uncertainties
indicated from time to time in the proxy statement/prospectus relating to the
Business Combination, including those under “Risk Factors” in the Registration
Statement, and in HealthCor’s other filings with the SEC. HealthCor, Hyperfine
and Liminal caution that the foregoing list of factors is not exclusive, and
they caution readers not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. HealthCor, Hyperfine and
Liminal do not undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements to reflect
any change in its expectations or any change in events, conditions or
circumstances on which any such statement is based.
No Offer or Solicitation
This press release shall not constitute a
solicitation of a proxy, consent or authorization with respect to any
securities or in respect of the Business Combination. This press release shall
also not constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any states or
jurisdictions in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act of 1933, as amended.
# # #
Media Contact
Emily Barnes
APCO Worldwide
ebarnes@apcoworldwide.com
Investor Contact
Marissa Bych
Gilmartin Group LLC
investors@hyperfine.io