By Ateev Bhandari and Pritam Biswas

Aug 7 (Reuters) - Medical technology firm Heartflow

said on Thursday it had raised $316.7 million in its U.S.

initial public offering, setting the stage for its Nasdaq debut

in another test of investor appetite for medical tech companies.

The Mountain View, California-based company sold 16.67

million shares at $19 each, compared with a targeted range of

$17 to $18 apiece. It upsized its offering and raised the

proposed range earlier this week reflecting strong demand.

The IPO valued the company at $1.54 billion.

U.S. IPOs have picked up pace in a much-awaited recovery, as

solid tech earnings and progress on trade deals have helped

restore investor confidence.

Strong recent debuts mark a reversal from early April, when

uncertainty around U.S. President Donald Trump's tariffs paused

dealmaking.

Heartflow's stock will begin trading on the Nasdaq on Friday

under the "HTFL" ticker symbol. The closing of the offering is

expected on August 11.

J.P. Morgan, Morgan Stanley and Piper Sandler are the lead

underwriters for the offering.

Following software firm Figma's ( FIG ) blowout debut last

week, analysts expect companies with a compelling growth story

to be welcomed by the public markets.

"We expect Heartflow to be well received at launch,

especially following Figma's ( FIG ) breakout success, which has helped

reset sentiment toward high-growth names," IPOX CEO Josef

Schuster said.

Bain Capital-backed Heartflow leverages AI to create 3D

models of the heart via a single specialized scan, improving

detection and treatment of coronary artery disease (CAD).

As AI gains widespread acceptance, companies embedding it

into workflows for meaningful use cases are catching investor

attention, with the technology powering gains across various Big

Tech businesses.

Heartflow's revenue grew 39% for the quarter ended March 31

from a year earlier. Its platform to detect CAD was used in

132,000 patients in 2024.