Heartflow Inc. (HTFL), a medical technology firm backed by Bain Capital, saw its stock price soar by 47.37% during its Nasdaq debut on Friday. The dramatic rise came after the company's successful initial public offering (IPO) that raised approximately $316.7 million in gross proceeds.

The Mountain View, California-based company, which provides artificial intelligence technology for coronary artery disease diagnosis, priced its upsized IPO at $19 per share, above the marketed range of $17 to $18. Heartflow sold about 16.7 million common shares, with underwriters having a 30-day option to purchase up to 2.5 million additional shares. The strong demand for the offering led the company to upsize its offering and raise the proposed range earlier in the week.

Heartflow's shares opened at $28, significantly higher than the $19 IPO price, reflecting robust investor interest in the AI-enabled medical technology sector. The company's successful debut marks the third sizable medtech listing in New York in less than a month, highlighting the growing appetite for innovative healthcare technologies in the public markets. Founded in 2007 as Cardiovascular Simulation, Heartflow's products aim to help physicians diagnose and treat heart disease more effectively using artificial intelligence.