Horizon Technology Finance, an affiliate of Monroe Capital, provided a $40 million loan facility to Hyperfine, Inc., with an initial funding of $15 million at closing, and up to $25 million available to support future commercial growth.

Hyperfine is a publicly traded health technology company that has developed and is commercializing the Swoop® System, the first FDA-cleared AI-powered portable magnetic resonance (MR) brain imaging system. Cleared for brain imaging in patients of all ages, the Swoop® System brings brain imaging directly to the patient in various care settings including the ICU, emergency departments, smaller community hospitals, and neurology offices. The system delivers diagnostic quality images and can be safely and easily operated at the point of care without the need for a specialized MRI technician.

“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,” said Paul Seitz, Chief Investment Officer of Horizon. “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.”

“Horizon has a deep understanding of the medtech space and the unique needs of companies at our stage of commercial growth,” said Maria Sainz, Chief Executive Officer and President of Hyperfine. “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.”