Hyperfine, Inc. · NASDAQ:HYPR
Hyperfine — SPAC Merger (July 2021)
39 slides from Hyperfine's SPAC merger presentation, July 2021
Slide 1: Corporate presentation: Hyperfine + Liminal + HealthCor Catalio
Corporate presentation Hyperfine + Liminal + HealthCor Catalio July 2021 © 2021 Hyperfine, Inc.
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 Chris Gaulin Scott Huennekens Dave Scott Dr. Rothberg is the founder and Chris is a Portfolio Manager of Scott is a successful executive, Dave is a seasoned executive, chairman of each 4Catalyzer HealthCor
Slide 5: HealthCor Catalio Acquisition Corp (Nasdaq: HCAQ)
HealthCor Catalio Acquisition Corp (Nasdaq: HCAQ) Joseph Healey • HealthCor ($3 billion AUM) founded in 2005 HealthCor Founder and SPAC Chairman by Joseph Healey and Arthur Cohen Founding partner and Portfolio Manager at HealthCor with 25+ year investing experience. Prior PM at Kingdon Capital • Par
Slide 6: Highly compelling investment characteristics
Highly compelling investment characteristics Massive TAM of over $23 billion for imaging with potential to take market share and expand the market Large Market Poised category. Both companies could unlock huge markets individually but combined have the potential to build an for Disruption ecosystem
Slide 7: Transaction overview
Transaction overview Sources, uses and pro forma ownership Sources of Funds ($M) Uses of Funds ($M) Cash in Trust1 $207.0 Equity Issued to Target Shareholders $564.8 Target Shareholders Equity Rollover $564.8 Cash to Balance Sheet3 $374.7 Private Placement $126.1 Estimated Transaction Costs $24.2 Ta
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 CAGR Revenue 2023E 2021-2023E High Growth 12.7x 37.9% Med-Tech Disruptive 17.9x 33.7% Technologies 10.7x 384.4% © 20
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Slide 10: The best way to predict the future is to make it
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 Sense (FDA cleared) (in development) Intervene (in development) A full ecosystem solution: Hardware, software, consumables and applications powered by artificial intelligence © 2021 Hyper
Slide 12: Hyperfine has created the next generation of MRI
Hyperfine has created the next generation of MRI MRI 1.0 MRI 2.0 MRI 3.0 1980 1990 FDA Cleared 2020 © 2021 Hyperfine, Inc. 11
Slide 13: Hyperfine has created the next generation of MRI
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 Current primary clinical uses: - Stroke - Hydrocephalus - Cerebral Trauma FDA Cleared 2020 -
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 $28B Imaging Hospitals, Outpatient Guided Intervention >100,000 Hospitals and Health Systems Potential installation targets $23B >50M Potential
Slide 15: Numerous challenges with traditional MRI today
Numerous challenges with traditional MRI today High cost limits accessibility Complex site requirements Adverse events and upgrades occur in Scheduling delays lead 22-46 % to longer length of stay of cases during transport Consumption of valuable personnel resources Risk of adverse events during tra
Slide 16: Workflow benefits
Workflow benefits Traditional MRI workflow (25.8 hours) MRI ordered Patient Intra-hospital MRI Intra-hospital Post MRI preparation transfer to MRI examination transfer to unit examination Hyperfine workflow (90mins, 94% reduction in total workflow time) MRI ordered MRI Post MRI examination examinati
Slide 17: Hyperfine addresses challenges of traditional MRI by bringing MRI to the patient
Hyperfine addresses challenges of traditional MRI by bringing MRI to the patient Intensive Care Units Emergency Department Global Health and Operating Rooms Safer and easier to use resulting in a faster time to diagnosis and treatment © 2021 Hyperfine, Inc. 16
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 Rehabilitation Clinic - Acute Mental Status Change - Acute Mental Status Change - Ataxia - Brain Injury After Fall - Cerebral Edema - Stroke Recovery - Cerebrovascular Disease - Cranial Neuropathy - Extra Ventri
Slide 19: Hyperfine provides compelling platform for stroke diagnosis
Hyperfine provides compelling platform for stroke diagnosis 15 million MRI scans are better at detecting people worldwide ischemic stroke damage suffer a stroke annually compared to CT scans Stroke is the 2nd leading cause of death globally Hyperfine offers an affordable MRI platform that can MRI us
Slide 20: Stroke diagnosis confirmed
Stroke diagnosis confirmed 62 year old male Presented with new left sided weakness and tremor © 2021 Hyperfine, Inc. 19
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 Stroke Hydrocephalus Hematoma Multiple sclerosis Tumor resection to do the level of sophisticated imaging in an ICU that MRI can pro
Slide 22: Hyperfine business model allows for potential widespread adoption
Hyperfine business model allows for potential widespread adoption Subscription service includes: Subscription Model 4 contrast sequences (T1, T2, FLAIR, DWI with accompanying ADC map) $7,250/month Unlimited service and maintenance Over $261,000 - 3 year contract value Unlimited user training Potenti
Slide 23: Estimated Hyperfine economic benefits
Estimated Hyperfine economic benefits Financial Benefits analysis based on data from Large Academic Medical Center Cost Amount Saved ED Length of stay and costs $115,000 Hospital LOS and Costs $49,000 Transport risks and costs $120,000 Annual Total Cost Savings $284,000 Annual Hyperfine Cost $65,000
Slide 24: Pipeline Opportunity
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Slide 25: Innovative R&D engine designed to expand product roadmap
Innovative R&D engine designed to expand product roadmap Potential benefits: Existing applications V1 Stroke Potential future applications V2 Hydrocephalus Improved Expanded usability Addressable Market C-spine Extremities Lower cost Automated of goods Stroke Intra and Post Operative Detection © 202
Slide 26: Liminal will democratize brain sensing
Liminal will democratize brain sensing Heart monitors are easy, accurate, and universal After an accident Before and during surgery …but access to brain monitors is restricted. At a checkup While exercising © 2021 Hyperfine, Inc. 25
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 - Hydrocephalus - Traumatic Brain Injury Intensive - Altered mental status - Vasospasm - Subarachnoid hemorrhage Care Unit - Brain tumors - Stroke - Suspected seizures - Sepsis - Cerebral edema - Acute liver failure Operating - Intraoperative - Post surgical moni
Slide 29: Hyperfine's goal is to build an ecosystem across the care continuum
Hyperfine's goal is to build an ecosystem across the care continuum Powered by artificial intelligence Hyperfine aims to provide affordable care at the patient’s side... Precision when and where it matters Sense Image Intervene © 2021 Hyperfine, Inc. 28
Slide 30: Future product roadmap
Future product roadmap To expand from imaging to guided intervention 2023 Guided Intervention V2 MRI Brain Sensing Guided Intervention Guided Robotics Breast MRI Imaging neuro, Non-invasively monitor brain Image-guided interventions MRI-guided robotics to Breast screenings as a safer c-spine, extrem
Slide 31: Financial Overview
Financia Overviev HYPERFINE
Slide 32: Install base growth has potential to drive strong revenue and margin profile
Install base growth has potential to drive strong revenue and margin profile 5-year revenue projection Imaging install base $ in millions 3,000 2,848 350.0 $301.6 2,000 1,562 300.0 250.0 1,000 719 264 45 200.0 0 2021E 2022E 2023E 2024E 2025E $141.1 150.0 100.0 $54.2 Sensing install base 50.0 $16.3 $
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 Interventional MRI, robotic
Slide 34: Highly compelling investment characteristics
Highly compelling investment characteristics Massive TAM of over $23 billion for imaging with potential to take market share and expand the market Large Market Poised category. Both companies could unlock huge markets individually but combined have the potential to build an for Disruption ecosystem
Slide 35: Thank you
Thank you Come join us! Help us make the future. July 2021 © 2021 Hyperfine, Inc.
Slide 36: Proven team, clear mission, driven to succeed
Proven team, clear mission, driven to succeed Dr. Khan Mark Neela Dave Scott Chris Ward Siddiqui Hughes Paykel Chief Executive Officer Chief Strategy Officer Chief Operations Officer Head of Marketing General Counsel & Chief Medical Officer Robert Dr. Eddie Kamyar Ruby Gill Rob Korn Glashow Knopp Fi
Slide 37: 99 issued patents and 285 pending applications
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, Inc. 36
Slide 38: Competitive imaging
Competitive imaging Portable CT CereTom Portable MRI Swoop Setting ED - Neuro ICU ED - Neuro ICU Imaging CT, CTA, CTP T1, T2, FLAIR, DWI Use Cases Stroke Stroke Limitations Larger size - Ionizing radiation Ergonomics Benefits Widely available and fast Reduces radiation exposure © 2021 Hyperfine, Inc
Slide 39: Competitive MRI products comparison
Medtronic GE Philips Siemens Hitachi Fonar IMRIS ‐ Polestar N10 0.12T Signa 0.5 T ‐ Panorama 1T MAGNETOM AIRIS 0.3T Fonar 360° ‐ Siemens Product (Odin) ‐ Panorama 0.23T Open 0.2T ‐ MAGNETOM 1.5T Name ‐ Polestar N20 (Odin) ‐ MAGNETOM 3T ‐ Polestar N30 (Odin) Does not require Only 15 systems Open MRI