Kirkland Advises HealthCor Catalio on Combination with Hyperfine and Liminal for $580 Million
Kirkland & Ellis counseled HealthCor Catalio Acquisition Corp. (Nasdaq: HCAQ), a special purpose acquisition company, or SPAC, on its definitive business combination agreement with Hyperfine, Inc. (Hyperfine), creator of the first U.S. Food and Drug Administration cleared portable magnetic resonance imaging device, Swoop™, and Liminal Sciences, Inc. (Liminal), a medical device development company dedicated to non-invasive measurement of key vital signs in the brain. The pro forma enterprise value of the combined entity is approximately $580 million and upon closing the combined entity is expected to have approximately $375 million of cash to drive the business through its investment phase and to positive cash flow, assuming no redemptions.
Read Hyperfine’s press release
The Kirkland team was led by corporate partners Debbie Yee, Sean Wheeler and Cephas Sekhar and associates Camille Walker, Jack Chadderdon, Carter Johnston and Tomi Olutoye; capital markets associates Noah Allen, Sarah Byrd and Sam Roberts; executive compensation partners Rob Fowler and Stephanie Jeane and associate David Branham; tax partner David Wheat and associate Nicole Martin; technology & IP transactions partner Shellie Freedman and associate Michael James; and corporate partner Katie Sullivan and associate Charles Inclan.
