Horizon Technology Finance Corporation (HRZN) announced a $40 million secured venture‑loan facility to Hyperfine, Inc., a publicly traded health‑technology company. The facility will provide an initial $15 million disbursement at closing, with an additional $25 million available to support Hyperfine’s future commercial expansion of its FDA‑cleared Swoop® System, a portable magnetic‑resonance imaging platform for brain diagnostics.
Hyperfine, listed on Nasdaq under HYPR, has demonstrated rapid revenue growth, reporting $5.29 million in Q4 2025 revenue—a 128% year‑over‑year increase—and $13.56 million in full‑year revenue with a 51% gross margin. The company has raised $90 million in a Series D financing in February 2021 and a grant round in November 2021, positioning it to capitalize on the capital infusion from HRZN to accelerate global deployment of its Swoop System in hospitals and office settings.
HRZN’s strategy focuses on originating larger, high‑yield loans to early‑stage and growth companies, especially in life science and med‑tech. The company’s Q4 2025 results showed Net Investment Income of $8.3 million versus $10.4 million a year earlier, and a Net Asset Value per share of $6.98 versus $8.43. HRZN’s merger with Monroe Capital, approved by shareholders on March 13 2026 and expected to close within 30 days of March 16 2026, will expand its equity base and enable larger venture‑debt transactions.
"Hyperfine has built a truly differentiated technology platform that is expanding access to brain imaging in settings where conventional MRI is not accessible, practical, affordable nor readily available," said Paul Seitz, Chief Investment Officer of HRZN. "Horizon has a deep understanding of the medtech space and the unique needs of companies at our stage of commercial growth. This facility provides us with the capital to accelerate the commercial expansion of our Swoop® System across hospital and office settings as well as globally as we expand the reach and access of MRI for acute and chronic brain conditions providing high clinical and economic value to patients, clinicians and providers," added Maria Sainz, CEO of Hyperfine.
The loan is a secured venture‑loan with first‑liability debt and warrants to purchase Class A common stock at $1.20 per share. The structure aligns with HRZN’s specialty‑lending model and provides Hyperfine with flexible working capital to scale its sales and marketing efforts while maintaining a strong collateral base.
The transaction strengthens HRZN’s capital position ahead of the Monroe Capital merger, allowing the combined entity to originate larger, higher‑yield loans to venture‑backed companies. For Hyperfine, the capital will accelerate the commercialization of its Swoop System, expanding its global footprint and supporting the company’s projected 2026 revenue of $20 million to $22 million. The loan underscores HRZN’s continued focus on life‑science and med‑tech borrowers and signals confidence in Hyperfine’s growth trajectory.
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