Hyperfine, Inc. · NASDAQ:HYPR
Hyperfine — SPAC Merger (July 2021)
52 slides from Hyperfine's SPAC merger presentation, Jul 8, 2021
Slide 1: HealthCor Catalio Corporate Presentation: Hyperfine + Liminal
resentation + HealthCor Catalio Corporate p Hyperfine + Liminal July 2021 © 2021 Hyperfine Confidential
Slide 2: Disclaimer
Disclaimer This presentation is for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to the proposed business combination (“Business Combination”) by and among HealthCor Catalio Acquisition Corp. (“HealthCor Catalio” or the “C
Slide 3: Disclaimer (cont.)
Disclaimer (cont.) Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s, Hyperfine’s and Liminal’s actual results may differ from their expectations
Slide 4: Seasoned management team with history driving platform and application usage
Seasoned management team with history driving platform and application usage Jonathan Rothberg Dr. Rothberg is the founder and chairman of each 4Catalyzer company, which have together raised over $2B across eight-life science and medical device companies. Jonathan’s mission is to build technologies
Slide 5: HealthCor Catalio Acquisition Corp
HealthCor Catalio Acquisition Corp (Nasdaq: HCAQ) HealthCor ($3 billion AUM) founded in 2005 by Joseph Healey and Arthur Cohen Partners all have 20+ years investing experience across numerous healthcare cycles 10 person investment team with an average of 12 years of investing in the healthcare secto
Slide 6: Highly compelling investment characteristics
Highly compelling investment characteristics Large Market Poised for Disruption Massive TAM of over $23 billion for imaging with potential to take market share and expand the market category. Both companies could unlock huge markets individually but combined have the potential to build an ecosystem
Slide 7: Transaction overview
Transaction overview Sources, uses and pro forma ownership Sources of Funds ($M) Cash in Trust1 $207.0 Target Shareholders Equity Rollover $564.8 Private Placement $126.1 Target Cash2 $66.0 Sponsor Founder Shares $57.9 Total Sources $1,021.8 Uses of Funds ($M) Equity Issued to Target Shareholders $5
Slide 8: Valuation benchmarking
Valuation benchmarking Merger price set at a discount to similar high growth and disruptive companies to incentivize current and new stakeholders to maximize impact Median EV/ Revenue 2023E Revenue CAGR 2021-2023E High Growth Med-Tech 12.7x 37.9% Disruptive Technologies 17.9x 33.7% 10.7x 384.4% © 20
Slide 9: Hyperfine Opportunity
Hyperfine Opportunity HYPERFINE
Slide 10: Our mission: affordable and accessible imaging, sensing, and guided intervention
The best way to predict the future is to make it” Jonathan M. Rothberg Vice Chairman and Founder Our mission: To provide affordable and accessible imaging, sensing, and guided robotic intervention to revolutionize healthcare for people around the world. Hyperfine is the third company to go public fr
Slide 11: The Hyperfine ecosystem
The Hyperfine ecosystem Democratizing Imaging, Sensing and Guided Intervention to cover the care continuum Image (FDA cleared) Sense (in development) Intervene (in development) © 2021 Hyperfine Confidential A full ecosystem solution: Hardware, software, consumables and applications powered by artifi
Slide 12: Hyperfine has created the next generation of MRI
Hyperfine has created the next generation of MRI MRI 1.0 1980 MRI 2.0 1990 MRI 3.0 FDA Cleared 2020 © 2021 Hyperfine Confidential11
Slide 13: MRI 3.0 - FDA Cleared 2020
Hyperfine has created the next generation of MRI MRI 3.0 - FDA Cleared 2020 Patent protected noise cancellation system enables clinical-grade images Current installed base of 46 units Portable low-field MRI FDA Cleared 2020 Current primary clinical uses: Stroke Hydrocephalus Cerebral Trauma Acute Me
Slide 14: Estimated $70+ billion opportunity across the ecosystem
Estimated $70+ billion opportunity across the ecosystem $22B Sensing ICUs, Expanded Hospital, Surgical Centers, Outpatient, At-home ~4M Potential unit sales Imaging Hospitals, Outpatient >100,000 Potential installation targets $23B $28B Guided Intervention Hospitals and Health Systems >50M Potential
Slide 15: Numerous challenges with traditional MRI today
Numerous challenges with traditional MRI today High cost limits accessibility Adverse events occur in 22-46% of cases during transport Complex site requirements and upgrades Scheduling delays lead to longer length of stay Consumption of valuable personnel resources Risk of adverse events during tran
Slide 16: Workflow benefits
Workflow benefits Traditional MRI workflow (25.8 hours) MRI orderedPatient preparation Intra-hospital transfer to MRI MRI examination Intra-hospital transfer to unit Post MRI examination Hyperfine workflow (90mins, 94% reduction in total workflow time) MRI orderedMRI examination Post MRI examination
Slide 17: Bringing MRI to the patient
Hyperfine addresses challenges of traditional MRI by bringing MRI to the patient Emergency Department Intensive Care Units and Operating Rooms Global Health Safer and easier to use resulting in a faster time to diagnosis and treatment © 2021 Hyperfine Confidential16
Slide 18: Hyperfine portable MRI clinical use cases with current platform (V1)
Hyperfine portable MRI clinical use cases with current platform (V1) Intensive Care Unit - - - - - - - - - - - Acute Mental Status Change Ataxia Cerebral Edema Cerebrovascular Disease Cranial Neuropathy Extra Ventricular Drain Placement Follow-up Intracranial Hemorrhage Follow-up Ischemic Stroke Fol
Slide 19: Compelling platform for stroke diagnosis
Hyperfine provides compelling platform for stroke diagnosis 15 million people worldwide suffer a stroke annually MRI scans are better at detecting ischemic stroke damage compared to CT scans Stroke is the 2nd leading cause of death globally MRI use for stroke has been limited due to lack of access t
Slide 20: Stroke diagnosis confirmed
Stroke diagnosis confirmed 62 year old male Presented with new left sided weakness and tremor © 2021 Hyperfine Confidential19 FLAIRT2 DWIADC
Slide 21: Clinical validation of Hyperfine
Clinical validation of Hyperfine Over 25 conference presentations and publications discussing clinical benefits for Game changer is a good way to put it […] being able to do the level of sophisticated imaging in an ICU that MRI can provide.’’ Dr. Fady Charbel, MD, FAANS, FACS Stroke HydrocephalusHem
Slide 22: Business model allows for potential widespread adoption
Hyperfine business model allows for potential widespread adoption Subscription Model $7,250/month Over $261,000 - 3 year contract value Potential robust recurring revenue stream Software as a Service model could drive significant gross margin Subscription service includes: 4 contrast sequences (T1,
Slide 23: Estimated Hyperfine economic benefits
Estimated Hyperfine economic benefits Financial Benefits analysis based on data from Large Academic Medical Center © 2021 Hyperfine Confidential22
Slide 24: Pipeline Opportunity
(a) © Pipeline Opportunity
Slide 25: Innovative R&D engine designed to expand product roadmap
Innovative R&D engine designed to expand product roadmap Existing applications V1 Potential future applications V2 Expanded Addressable Market Improved usability Hydrocephalus C-spine Automated Stroke Detection Lower cost of goods Intra and Post Operative © 2021 Hyperfine Confidential24
Slide 26: Liminal will democratize brain sensing
Liminal will democratize brain sensing Heart monitors are easy, accurate, and universal After an accidentBefore and during surgery At a checkupWhile exercising …but access to brain monitors is restricted. © 2021 Hyperfine Confidential25
Slide 27: Liminal non-invasive brain vital sensor
Liminal non-invasive brain vital sensor Breakthrough AEG Technology designed to unlock access to blood flow and pressure Non-Invasive Risk-free use on every patient to enable broader access and earlier diagnosis Continuous Trend Analysis Continuous sensing to build trends for data-backed treatment E
Slide 28: Brain-sensing clinical opportunities
Brain-sensing clinical opportunities Intensive Care Unit Hydrocephalus Vasospasm Stroke Cerebral edema Traumatic Brain Injury Subarachnoid hemorrhage Suspected seizures Acute liver failure Altered mental status Brain tumors Sepsis Operating Room Outpatient & At Home Intraoperative monitoring/anesthe
Slide 29: Goal to build an ecosystem across the care continuum
Hyperfine's goal is to build an ecosystem across the care continuum Hyperfine aims to provide affordable care at the patient’s side... Sense Image Precision when and where it matters Intervene © 2021 Hyperfine Confidential28
Slide 30: Future product roadmap
Future product roadmap To expand from imaging to guided intervention 2023 Guided Intervention V2 MRI Imaging neuro, c-spine, extremities and interventional procedures Brain Sensing Non-invasively monitor brain vitals for blood flow and pressure Guided Intervention Image-guided interventions with rea
Slide 31: Financial Overview
Financial Overview HYPERFINE
Slide 32: Five-year revenue projection and install base
Imaging install base 3,000 2,848 2,000 1,562 1,000 719 45 264 0 2021E 2022E 2023E 2024E 2025E 5-year revenue projection $ in millions 350.0 $301.6 300.0 250.0 200.0 150.0 $141.1 100.0 $54.2 50.0 $2.31 $16.3 0.0 2021E Imaging 2022E Sensing 2023E Interventional 2024E2025E Total Revenue Gross Margin NM
Slide 33: Investment priorities
Investment priorities Clinical and regulatory Commercialization globally Imaging Next generation and consumables product development Execute deep learning AI apps Regulatory and clinical trial execution Sensing Commercialization in US and Global Product development Guided Intervention Interventional
Slide 34: Highly compelling investment characteristics
Highly compelling investment characteristics Large Market Poised for Disruption Massive TAM of over $23 billion for imaging with potential to take market share and expand the market category. Both companies could unlock huge markets individually but combined have the potential to build an ecosystem
Slide 35: Thank you
Thank you Come join us! Help us make the future. July 2021 © 2021 Hyperfine Confidential
Slide 36: Proven team, clear mission, driven to succeed
Proven team, clear mission, driven to succeed Dave Scott Chief Executive Officer Dr. Khan Siddiqui Chief Strategy Officer & Chief Medical Officer Mark Hughes Chief Operations Officer Chris Ward Head of Marketing Neela Paykel General Counsel Robert Glashow Acting Chief Financial Officer Ruby Gill Hea
Slide 37: Issued patents and technology features
99 issued patents and 285 pending applications Operates on the same amount of power as a coffee maker <1.6kW powered MRI system <50" diameter self-contained MRI system Noise cancelling technology to reduce interference MRI scanner on wheels © 2021 Hyperfine Confidential36
Slide 38: Competitive imaging
Competitive imaging © 2021 Hyperfine Confidential37
Slide 39: What is a SPAC
[LOGO] special purpose acquisition company (SPAC), a public company whose shares are listed on The Nasdaq Stock Market (“”Nasdaq”). SPACs are also known as “blank check” companies and they are path to going public and raising capital relative to a traditional IPO. Upon the closing of the business co
Slide 40: Town Hall
Town Hall July 8 th , 2021 © 2021 Hyperfine Confidential +
Slide 41: Disclaimers
© 2021 Hyperfine Confidential 2 Disclaimers Important Information about the Business Combination and Where to Find It In connection with the proposed business combination (the “Business Combination”) among HealthCor Catalio Acquisition Corp . (“HealthCor Catalio” or the “Company”), Hyperfine, Inc .
Slide 42: Disclaimers: Forward-Looking Statements
© 2021 Hyperfine Confidential 3 Disclaimers Forward - Looking Statements This presentation includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 . The Company’s, Hyperfine’s and Liminal’s actual results may
Slide 43: Disclaimers
© 2021 Hyperfine Confidential 4 Disclaimers The Company, Hyperfine and Liminal caution that the foregoing list of factors is not exclusive. The Company, Hyperfine and Li min al caution readers not to place undue reliance upon any forward - looking statements, which speak only as of the date made. Th
Slide 44: Announcement of business combination
© 2021 Hyperfine Confidential 5 • Today we announced that we have taken the first steps to become a public company • We are doing this through a business combination between Hyperfine, Liminal Sciences, and HealthCor Catalio Acquisition Corp., a SPAC (Special Purpose Acquisition Company) • We believ
Slide 45: Hyperfine + Liminal Sciences
© 2021 Hyperfine Confidential 1: Subject to regulatory authorization 6 Hyperfine + Liminal Sciences • Hyperfine is revolutionizing MRI access with its Swoop Ð portable MRI device. • Our technology enables the expansion of high - quality imaging to ER, OR, ICU, outpatient, and other non - hospital se
Slide 46: Hyperfine + Liminal Sciences: addressable market and capital deployment
© 2021 Hyperfine Confidential 7 Hyperfine + Liminal Sciences • We see a $70B+ addressable market opportunity across our ecosystem: • MR imaging • Brain monitoring • MRI - guided robotic intervention • We plan to deploy the capital from this transaction across our combined vision: • Expand MRI commer
Slide 47: The Hyperfine Ecosystem
© 2021 Hyperfine Confidential 8 The Hyperfine Ecosystem Democratizing Imaging, Sensing and Guided Intervention to cover the care continuum An ecosystem solution: Hardware, software, consumables, and applications powered by artificial intelligence Image (FDA cleared) Intervene (in development) Sense
Slide 48: HealthCor Catalio Acquisition Corp
© 2021 Hyperfine Confidential 9 HealthCor Catalio Acquisition Corp • HealthCor is an investment management firm focused on the global healthcare and life sciences industry • F ounded in 2005 by Joseph Healey and Arthur Cohen • Partners all have 20+ years investing experience across numerous healthca
Slide 49: Timeline
© 2021 Hyperfine Confidential 10 Timeline • The next step involves HealthCor Catalio Acquisition Corp. filing a Form S - 4 registration statement and other filings with the Securities and Exchange Commission (SEC), which will provide additional information about the transaction and the company going
Slide 50: Keep Doing What You Do Best
© 2021 Hyperfine Confidential 11 Keep Doing What You Do Best • Our jobs and our mission remain substantially the same . Now more than ever, it’s critically important to remain focused on delivering upon our near and long - term goals. • Employee pay and benefits remain at their current levels • Comp
Slide 51: Key Takeaways
© 2021 Hyperfine Confidential 12 Key Takeaways • This is a big moment for Hyperfine and Liminal Sciences, and we believe this will be the beginning of an awesome new chapter for our companies • Keep doing what you’re doing – stay focused on our mission and telling our story • Follow communication an
Slide 52: Thank you for creating the future!
Thank you for creating the future !