AcquisitionsJul 27, 2026, 06:11 AM
Profusa to Acquire Diagnostics Co.; New CEO Appointed
AI Summary
Profusa, Inc. announced the signing of a non-binding term sheet to acquire a privately held, commercial-stage health diagnostics and toxicology testing company. This acquisition is expected to create a public diagnostics company with national CLIA-certified laboratories and estimated 2025 net revenues of $111 million for the Dx Company. In anticipation of this transaction, Jack Stover was appointed Executive Chairman and CEO, while former CEO Ben Hwang transitioned to President and resigned from the board. Liviu Goldenberg was also appointed as an independent director.
Key Highlights
- Profusa signed a non-binding term sheet to acquire a commercial-stage diagnostics company.
- The acquired Dx Company's estimated 2025 Net Revenues are approximately $111 million.
- Jack Stover was appointed Executive Chairman and Chief Executive Officer.
- Ben Hwang transitioned from CEO/Chairman to President and resigned from the board.
- Liviu Goldenberg was appointed as an independent director.
- Acquisition consideration includes 19.99% Profusa common stock and non-voting convertible preferred stock.
- Profusa anticipates closing on approximately $7 million in convertible note financing.
Price Impact
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