Heartflow Jumps 66% in Market Debut After $317 Million IPO

Heartflow Inc., a developer of artificial-intelligence software that analyzes cardiac imaging, raised about $317 million in its initial public offering after selling 16.7 million shares at $19 apiece, giving the company an implied valuation of roughly $1.6 billion. The stock began trading Friday and surged as much as 66% above the offer price, reflecting strong investor demand for health-care technology companies. Indications pointed to an opening range near $30 a share; the first trade was recorded at about $28 before extending gains. JPMorgan Chase & Co. led the underwriting syndicate on the upsized deal. Heartflow had previously planned to go public via a special-purpose acquisition company in 2021 but ultimately opted for a traditional listing.