Forbes May 23, 2024
Facing increased investor scrutiny and competition from every angle, healthcare technology companies are often forced to walk a tightrope between speed, execution, innovation and longer-term sustainability. Butterfly Network, Inc. (NYSE:BFLY), with its progressive point-of-care, pocket-sized ultrasound device, is one such company that’s been trying to regain its balance since its entry into the public market in 2021.
With years of market validation providing confidence and supporting proof of concept, Butterfly’s decision to IPO (via a special purpose acquisition company or SPAC) was in service of the growth and long term sustainability of the company.
But despite having a first-of-its-kind device with the immense potential to “democratize” ultrasound use and access for all with a device cost of ~$2,000 versus existing...
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