Horizon Technology Finance Corporation announced it has provided a $40 million loan facility to Hyperfine, Inc., with an initial $15 million funded at closing and up to $25 million available for future growth. The financing is intended to support Hyperfine’s continued commercial expansion as it scales adoption of its portable MRI technology.
Hyperfine is a publicly traded health technology company focused on transforming brain imaging with its Swoop system, the first FDA-cleared, AI-powered, portable magnetic resonance brain imaging device. Designed for use across a wide range of care settings, including intensive care units, emergency departments, community hospitals, and neurology offices, the system enables clinicians to bring MRI capabilities directly to patients without requiring specialized MRI technicians.
The company’s technology aims to expand access to diagnostic imaging in environments where traditional MRI systems are impractical due to cost, infrastructure requirements, or accessibility limitations. Hyperfine is also advancing a second-generation system designed to deliver diagnostic-quality imaging while maintaining portability and ease of use.
Horizon Technology Finance, a specialty finance company focused on lending to venture-backed and publicly traded companies in sectors such as healthcare, life sciences, and technology, said the investment aligns with its strategy of supporting companies with strong clinical and commercial potential.
The capital from the facility will be used to accelerate the global rollout of the Swoop system and broaden its reach across both hospital and office-based care settings, as Hyperfine seeks to improve access to imaging for acute and chronic brain conditions.
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“Hyperfine has built a truly differentiated technology platform that is expanding access to brain imaging in settings where conventional MRI is not accessible, practical, affordable nor readily available. With strong clinical and economic evidence, a growing commercial opportunity with expanding sites of care, and a second-generation system that delivers diagnostic quality images, we are excited to support Hyperfine’s continued growth and the broader adoption of point-of-care neuroimaging.”
Paul Seitz, Chief Investment Officer of Horizon Technology Finance
“Horizon has a deep understanding of the medtech space and the unique needs of companies at our stage of commercial growth. This facility provides us with the capital to accelerate the commercial expansion of our Swoop system across hospital and office settings as well as globally as we expand the reach and access of MRI for acute and chronic brain conditions providing high clinical and economic value to patients, clinicians and providers.”
Maria Sainz, Chief Executive Officer and President of Hyperfine
