AcquisitionsJul 27, 2026, 06:01 AM
Profusa Signs Term Sheet for Dx Company Acquisition; New CEO
AI Summary
Profusa, Inc. announced it has signed a non-binding term sheet to acquire a privately held, commercial-stage health diagnostics and toxicology testing company. The combined entity is expected to operate as a public diagnostics company with estimated 2025 net revenues of $111 million for the Dx Company. Concurrently, Profusa announced significant management changes, appointing Jack Stover as Executive Chairman and CEO, and transitioning Ben Hwang to President. The company also anticipates closing on approximately $7 million in convertible note financing.
Key Highlights
- Profusa signed a non-binding term sheet to acquire a private health diagnostics company (Dx Company).
- Dx Company's 2025 unaudited net revenues are estimated at approximately $111 million.
- Profusa will issue shares equal to 19.99% of its outstanding common stock to Dx Company stockholders.
- Remainder of consideration will be in Profusa non-voting convertible preferred stock, subject to shareholder approval.
- Jack Stover appointed Executive Chairman and CEO of Profusa.
- Ben Hwang transitioned to President of Profusa.
- Profusa expects to close on approximately $7 million in convertible note financing concurrently with the transaction.
Price Impact
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