Profusa Signs Term Sheet for Diagnostics Acquisition, Announces Leadership Changes
Profusa (NASDAQ:PFSA) has signed a non-binding term sheet to acquire a commercial-stage diagnostics company with estimated unaudited net revenue of $111 million in 2025. The acquisition is expected to transform Profusa into a publicly traded diagnostics firm operating CLIA-certified laboratories, focusing on addiction treatment and behavioral health services. Alongside the proposed transaction, Profusa announced leadership changes: Jack Stover was appointed Executive Chairman and CEO, replacing Ben Hwang who now serves as President. Liviu Goldenberg joined the board as an independent director. The company also plans to raise approximately $7 million in financing through convertible notes and equity offerings. The deal is still subject to due diligence, definitive agreements, shareholder approvals, and other customary conditions.
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