Topic: How To Invest

Q: Hi, Pat and team. I have seen some interesting comments on Hyperfine lately. What’s your view on this device maker as a buy? Thanks in advance.

Article Excerpt

A: Hyperfine Inc., $1.34, symbol HYPR on Nasdaq (Shares outstanding: 70.7 million; Market cap: $99.5 million; is a medical device company based in Guilford, Connecticut. Hypefine designed its Swoop portable MRI (magnetic resonance imaging) system to be wheeled directly to a patient’s bedside. The device then plugs into a standard electrical wall outlet and is controlled by an Apple iPad. That mobility represents a change from current MRI technology that forces patients to come in to get scanned. Swoop was approved by the FDA in 2020. It has since received approval for brain imaging in the European Union, the U.K., Canada, Australia, New Zealand, and Pakistan. Healthcare entrepreneur Dr. Jonathan Rothberg founded the company in 2014. It went on to raise over $160 million in venture capital and grants from organizations, including GV (formerly Google Ventures) and the Bill & Melinda Gates Foundation. (Notably, in 2019, another of Dr. Rothberg’s companies, Butterfly Network, unveiled a handheld ultrasound that hooks up to an iPhone…