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.
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