[Hyperfine] Hyperfine Appoints New Board of Directors
[Hyperfine]
GUILFORD, Conn., Dec. 13, 2021 /PRNewswire/ -- Hyperfine Inc.,
creator of Swoop®, the first FDA-cleared portable magnetic resonance imaging™
(MRI) device, today announced the Board of Directors that will serve subsequent
to the closing of the previously announced business combination between
Hyperfine, Liminal Sciences, Inc., and HealthCor Catalio Acquisition Corp,
subject to the approval of their appointment at HealthCor's extraordinary
general meeting of shareholders to be held on December 21, 2021.
The individuals expected to serve as members of the
combined company's Board of Directors include:
John
Dahldorf, Chief Financial Officer of Santa Cruz Nutritionals.
He was previously Chief Financial Officer of Acutus Medical, an arrhythmia care
company that develops distinct, innovative technologies to provide physicians
and patients with improved results. He has more than 20 years of experience
leading financing and accounting in the health and medical device spaces.
Ruth
Fattori, Senior Advisor at Boston Consulting Group. She
brings more than 15 years of leadership experience in executive and human
resource management for a variety of industries and Fortune 500 companies. Ms.
Fattori serves on the board of directors of Quantum-Si, which created the
world's first next-generation protein sequencing platform.
Scott
Huennekens, Executive Chairman of the Board of Hyperfine. He has
played a key role in more than 20 medtech start-up, growth, and public
companies with market valuations totaling over $20 billion, that
cumulatively have delivered therapeutics and diagnostics to more than 20
million patients. Mr. Huennekens has been named Ernst & Young Entrepreneur
of the Year in 2010 and was recognized by Goldman Sachs in 2016, 2017, and 2018
as one of their 100 Most Intriguing Entrepreneurs.
Jonathan M.
Rothberg, PhD, Founder of Hyperfine. He is a serial entrepreneur
with more than 20 years of experience who founded and invented massively
parallel DNA sequencing, semiconductor sequencing, and ultrasound-on-a-chip
(Butterfly Network). In 2016, he was awarded the National Medal of Technology
and Innovation for his "pioneering inventions and commercialization of
next-generation DNA sequencing technologies, making access to genomic
information easier, faster, and more cost-effective for researchers around the
world."
Maria Sainz,
Former President and CEO of AEGEA Medical Inc., a women's health technology
company acquired by CooperSurgical in 2021. She serves as a member of the Board
of Directors of ShockWave Medical, Inc., Avanos Medical, Inc., and Atrion
Corporation. Ms. Sainz brings more than 20 years of experience leading large medical
device companies and medtech start-ups.
Dave Scott,
CEO of Hyperfine. He has 25 years of experience building and leading teams at
start-ups and Fortune 500 companies working in digital surgery, the digital
health ecosystem, surgical robotics, medical imaging, and diagnostics. He has
been awarded numerous patents in x-ray imaging, medical endoscopy, and laser
surgery applications.
Daniel J. Wolterman, CEO of Wolterman Consulting, LLC.
He has more than 30 years of experience in the healthcare industry, holding
various leadership roles, including serving as President and CEO of Memorial
Hermann Health System, the largest not-for-profit health system in the Houston region
of Texas. He currently serves on the board of directors of NuVasive, a
Nasdaq-listed company focused on developing medical devices and procedures for
minimally invasive spine surgery.
"The anticipated appointment of these renowned
leaders and industry experts brings extensive depth, knowledge, and expanded
areas of expertise to our team at Hyperfine," said Dave Scott, chief
executive officer of Hyperfine. "Their insights will be invaluable and
essential in further developing our technology and business. I look forward to
working alongside them to change the future of healthcare."
For more information about Hyperfine, please visit https://www.hyperfine.io.
About
Hyperfine and the Swoop® Portable MRI System™
Hyperfine, Inc. is the groundbreaking medical device
company that created Swoop®, the world's first FDA-cleared portable MRI system.
Hyperfine designed Swoop to enable rapid diagnoses and treatment for every
patient regardless of income, resources, or location, pushing the boundaries of
conventional imaging technology and expanding patient access to life-saving
care. The Swoop® Portable MR Imaging System™ produces high-quality images
at a lower magnetic field strength, allowing clinicians to quickly scan,
diagnose and treat patients in various clinical settings. Swoop can be wheeled
directly to the patient's bedside, plugged into a standard electrical wall
outlet, and controlled by a tablet. Designed as a complementary system to
conventional MRIs at a fraction of the cost, Swoop captures images in minutes,
providing critical decision-making capabilities in emergency departments (ED),
operating rooms (OR), and intensive care units (ICU), among others.
Important
Information about the Business Combination and Where to Find It
In connection with the proposed business combination
(the "Business Combination") between HealthCor Catalio Acquisition
Corp. ("HealthCor"), Hyperfine, Inc. ("Hyperfine") and
Liminal Sciences, Inc. ("Liminal"), 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 commenced 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, Hyperfine's expectations with respect
to future performance, development and commercialization of products and
services; the membership of the Board of Directors of the combined company; and
the potential benefits and impact of Hyperfine'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 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
SOURCE Hyperfine Inc.