Butterfly Network, a World Leader in Democratizing Professional medical Imaging, Closes Small business Blend and Will Start out Buying and selling on the New York Stock Trade

— Announces unaudited 2020 total-12 months earnings of at the very least $45 million, representing expansion of at minimum 63%, each and every over prior forecast

GUILFORD, Conn. and NEW YORK, Feb. 16, 2021 /PRNewswire/ — Butterfly Network, Inc. (“Butterfly” or the “Firm”) (NYSE: BFLY), an impressive digital overall health corporation that is working to democratize health-related imaging and lead to the aspiration of worldwide wellbeing equity, now declared that it has concluded its company mix with Longview Acquisition Corp. (NYSE: LGVW.U, LGVW, LGVW WS) (“Longview”), a specific objective acquisition organization sponsored by an affiliate of Glenview Money Management, LLC (“Glenview”). The enterprise combination, which was authorized by Longview’s stockholders at its unique conference held on February 12, 2021, will gasoline further adoption and enable speed up Butterfly’s latest and upcoming pipeline of innovative technologies, which have the possible to completely transform wellness care shipping and generate a direct impact for clients.

The transaction resulted in the combined organization staying renamed to “Butterfly Community, Inc.,” with its Course A widespread stock and warrants to start investing on the New York Inventory Exchange (“NYSE”) on February 16, 2021 below the symbols “BFLY” and “BFLY WS”, respectively.

Doing work to create the new picture of wellness, Butterfly has developed a groundbreaking one-probe, entire-body point-of-care ultrasound option leveraging its patented Ultrasound-on-Chip™ engineering. The Company’s breakthrough software program remedies can combine into medical center networks to aid clinicians remodel care supply and boost efficiencies.

Nowadays, Butterfly also introduced that unaudited 2020 whole-12 months revenues are at minimum $45 million, symbolizing a comprehensive-calendar year advancement price of at least 63% when compared to the total 12 months 2019, just about every in advance of the prior forecast. Butterfly ideas to disclose its fourth quarter and complete-12 months 2020 financial benefits in March, followed by a reside convention get in touch with and webcast to go over the results and organization plans.

Story carries on

“2020 was a milestone 12 months for Butterfly as we made major progress to fulfilling our mission to produce impressive ultrasound technological know-how that is effortless to use, integrates into scientific final decision-building workflow, and eventually lowers the charge of treatment,” explained Dr. Jonathan Rothberg, founder of Butterfly and Chairman of the Board of Directors of the blended organization. “These days marks yet one more important second for the Enterprise that will permit us to broaden and accelerate our collective vision.”

“I am very excited to join this gifted organization that has the potential to make a profound effect on worldwide wellness care,” stated Dr. Todd Fruchterman, President and Main Govt Officer of Butterfly Network, Inc. “Butterfly makes it possible for men and women to imagine in different ways about the worth of ultrasound as a critical and built-in component of the full individual journey. By creating ultrasound additional accessible and deployable throughout a assortment of treatment options, we have the chance to grow the use circumstances of ultrasound and effects sickness interception, encouraging clinicians make much more knowledgeable choices to acquire motion before. As we more establish our roadmap, we strategy to companion with our consumers to grow into novel marketplace programs which includes continual sickness administration, which impacts extra than 100 million people in the United States on your own.”

The combined firm will be led by field veteran, Dr. Todd Fruchterman as President and Chief Executive Officer, together with its really able govt workforce. The merged firm’s board of administrators will include Dr. Rothberg as Chairman, Dr. Fruchterman, and Glenview founder, Larry Robbins. Butterfly has also welcomed new customers to the merged firm’s board: Dawn Carfora (Vice President, Company Organizing and Operations, International Business Team, Fb), John Hammergren (previous Chairman and CEO, McKesson Company), Gianluca Pettiti (Senior Vice President and President of Specialty Diagnostics, Thermo Fisher Scientific, Inc.), and S. Louise Phanstiel (Chair of the Board of Directors, Myriad Genetics).

As a result of the business enterprise mixture, Butterfly received around $589 million prior to transaction expenses, including close to $414 million of dollars held in Longview’s have faith in account and $175 million from private placement (PIPE) traders, like Eldridge, Fidelity Administration & Study Organization LLC, Glenview, Ridgeback, Tenet Healthcare Corporation, UPMC Enterprises, and Wellington Management. In addition, Butterfly’s present management and present equity holders have rolled 100% of their equity into the mixed business.

Advisors

J.P. Morgan Securities LLC acted as economical advisor to Butterfly. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as lawful advisor to Butterfly. The Council acted as strategic and integration advisor to the combining entities. UBS Investment Financial institution acted as economic advisor to Longview as nicely as the unique placement agent for the PIPE. UBS Expenditure Financial institution and Cowen acted as capital markets advisors to Longview, and initially underwrote the IPO of Longview in May 2020. Ropes & Gray LLP acted as lawful advisor to Longview.

About Butterfly Network

Founded by Dr. Jonathan Rothberg in 2011, Butterfly has made the world’s initial handheld, one-probe complete-entire body ultrasound program making use of its patented Ultrasound-on-Chip™ semiconductor technological innovation. Butterfly’s mission is to democratize health-related imaging and contribute to the aspiration of world wide health equity, which include for the 4.7 billion men and women around the globe missing accessibility to ultrasound. Butterfly is paving the way for before detection and distant administration of wellbeing situations close to the planet. The Butterfly iQ can be ordered these days by health care practitioners in the United States, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Butterfly iQ is a prescription device intended for experienced and certified health care specialists only.

Forward-Seeking Statements

This press launch consists of “ahead-looking statements” in the this means of the “safe and sound harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. The merged company’s genuine results may differ from its anticipations, estimates, and projections and, as a result, you must not rely on these forward-wanting statements as predictions of upcoming functions. Words these as “count on,” “estimate,” “job,” “price range,” “forecast,” “foresee,” “intend,” “strategy,” “may,” “will,” “could,” “ought to,” “believes,” “predicts,” “potential,” “continue,” and comparable expressions (or the negative versions of these kinds of terms or expressions) are intended to identify these ahead-searching statements. These ahead-searching statements incorporate, without having limitation, the merged company’s anticipations with regard to financial outcomes, foreseeable future overall performance, growth of products and solutions and services, opportunity regulatory approvals, expected economical impacts and other effects of the organization mixture on the put together company’s business, and the sizing and possible advancement of latest or long run markets for the combined company’s solutions and providers. These ahead-hunting statements require considerable risks and uncertainties that could lead to the actual benefits to differ materially from all those discussed in the forward-wanting statements. Most of these elements are exterior the merged company’s manage and are tough to forecast. Things that might cause such dissimilarities include, but are not restricted to: the affect of COVID-19 on the merged firm’s enterprise the means to preserve the listing of the mixed firm’s Course A typical inventory on the NYSE adhering to the enterprise combination the capability to understand the predicted benefits of the small business blend, which may be impacted by, between other items, competitors and the potential of the merged company to improve and manage expansion profitably and keep its crucial staff members alterations in applicable guidelines or polices the means of the merged organization to elevate financing in the potential the results, price and timing of the blended company’s item and support progress things to do the opportunity attributes and added benefits of the merged firm’s products and solutions and expert services the merged company’s skill to obtain and preserve regulatory approval for its goods, and any related limitations and limitations of any approved product the mixed company’s ability to detect, in-license or obtain additional know-how the combined firm’s potential to manage its existing license, manufacture, offer and distribution agreements the blended firm’s means to contend with other companies now internet marketing or engaged in the improvement of products and solutions and services that the merged business is presently advertising or building the measurement and expansion likely of the markets for the mixed firm’s products and companies, and its capacity to provide individuals markets, either alone or in partnership with some others the pricing of the merged company’s products and expert services and reimbursement for health-related methods done applying its merchandise and services the merged company’s estimates relating to bills, earnings, cash needs and demands for supplemental funding the combined firm’s economic performance and other dangers and uncertainties indicated from time to time in the proxy assertion/prospectus relating to the small business combination, including people below “Danger Components” therein, and the blended firm’s other filings with the SEC. The merged business cautions that the foregoing record of factors is not unique. The put together company cautions viewers not to place undue reliance upon any forward-searching statements, which talk only as of the day designed. The mixed corporation does not undertake or acknowledge any obligation or undertake to release publicly any updates or revisions to any ahead-searching statements to mirror any alter in its expectations or any adjust in functions, ailments or instances on which any such statement is dependent.

Contacts

Trader Relations

Butterfly Network, Inc.
Mike Cavanaugh or Mark Klausner
Westwicke, an ICR Enterprise
(646) 677-1838
[email protected]

Media Relations

Butterfly Network, Inc.
Sean Leous
Westwicke, an ICR Firm
(646) 866-4012
[email protected]

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Source Butterfly Network