Full Press Release Details
Butterfly Network, Inc. and Longview Acquisition Corp. Announce
Dr. Todd Fruchterman to Become President and CEO of the Combined Company
GUILFORD, Conn. and NEW YORK, New York, Jan. 25, 2021
Network, Inc. ("Butterfly"), an innovative digital health company that is working to enable universal access to superior
medical imaging, has named Dr. Todd M. Fruchterman, M.D., Ph.D., as President and Chief Executive Officer, effective February 1st,
in advance of the closing of its announced business combination with Longview Acquisition Corp. ("Longview", NYSE: LGVW, LGVW.U, LGVW WS).
Dr. Fruchterman joins Butterfly after nearly ten years at 3M Company ("3M"), where he most recently served as President
and General Manager of 3M's Medical Solutions Division, managing a $4.8 billion global business with above-market growth.
Previously, Dr. Fruchterman spent five years as EVP at Kinetic Concepts, Inc. ("KCI"), before which he served in key
roles at Johnson & Johnson, Schering-Plough, and Response Genetics. At 3M and KCI, Dr. Fruchterman also served as both
Chief Technology Officer and Chief Medical Officer. Most recently, he was Group President, Reliability Solutions at Flex.
are very excited Todd has joined Butterfly as President and CEO to lead the Company at this critical stage. Todd brings together
his unique qualifications and experience as an M.D., Ph.D. and proven business executive in public medical device companies, where
he has successfully scaled disruptive technologies throughout his entire career," said Dr. Jonathan Rothberg, Founder
and Chairman of Butterfly. "Our most valuable assets are the people of Butterfly who innovate and serve on a daily basis,
and I am pleased to support Todd as he builds upon a culture of purpose, joy and empowerment for our team and impact for patients
"The heart of Butterfly's culture is clinical excellence,
combined with technological breakthroughs, with a customer-centric approach to drive commercial success," said Larry Robbins,
Chairman of Longview. "Todd's experience fits hand in glove with the breadth and depth of our opportunity to drive
better medicine, empower medical professionals, improve patient outcomes and generate significant growth and value over the long-term."
"It is a privilege for me to join Butterfly at this pivotal
time in its pioneering effort to deliver affordable imaging solutions to the world," said Dr. Fruchterman. "Together
with the deep and skilled leadership team, and with the support of Jonathan and Larry, I look forward to empowering a full spectrum
of medical professionals, worldwide, with Butterfly's technology to help millions of patients achieve better, more cost-effective
outcomes, and maintain wellness."
In anticipation of the closing of the business combination,
Butterfly and Longview have also nominated Directors for election to the Board of Directors of the combined company. Joining Dr.
Rothberg (Chair), Dr. Fruchterman (President and CEO) and Mr. Robbins are Dawn Carfora, Vice President, Business Planning and Operations,
Global Business Group at Facebook; John Hammergren, former Chairman and CEO of McKesson Corporation; Gianluca Pettiti, Senior Vice
President and President of Specialty Diagnostics at Thermo Fisher Scientific, Inc. and S. Louise Phanstiel, Chair of the Board
of Directors at Myriad Genetics.
"I am grateful to these independent directors for supporting
our movement to use Ultrasound-on-Chip technology to make safe diagnostic imaging more accessible, more affordable and more
effective," said Dr. Rothberg. "We expect that their deep skills and directly relevant experiences will bring to the
company wisdom and insight across operational, strategic, cultural and fiduciary spheres."
"As we strive to build a world-class global organization,
we are fortunate to have the opportunity to access the perspectives and guidance of four highly accomplished executives whose current
or prior employers - Anthem (Wellpoint), Facebook, McKesson, and Thermo Fisher Scientific - are all significant and
admired growth companies," said Mr. Robbins. "We welcome them each as new Board members of the combined company and
new investors in Butterfly."
Longview has scheduled its Special Meeting of Stockholders for
8:00 a.m., New York Time, on Friday, February 12, 2021, for Longview's stockholders to approve the business combination and
the election of the 7 nominated Directors to the Board of Directors of the combined company. Subject to stockholder approval and
satisfaction or waiver of the other closing conditions to the business combination, the business combination is expected to close
on the same day. Trading in the combined company's Class A Common Stock on the New York Stock Exchange (NYSE) is expected
to begin on Tuesday, February 16th, under the ticker "BFLY".
Butterfly and Longview express their appreciation and best wishes
to Laurent Faracci, Butterfly's former CEO who stepped down over the weekend. "Laurent recognized the value of this
transformative combination and was critical in moving the company toward this goal and providing a seamless transition for the
next phases of growth," said Dr. Rothberg. "We wish him well in his future endeavors."
About Butterfly Network
Butterfly Network announced in November 2020 that it entered
into a business combination agreement with Longview Acquisition Corp. and, upon closing, the combined company's Class A common
stock is expected to be traded on the New York Stock Exchange under the symbol "BFLY." All equity of existing Butterfly
Network investors, including The Bill & Melinda Gates Foundation, will convert into shares of the combined company. There will
be no selling stockholders in the transaction. The business combination is expected to be completed by the end of the first quarter
Founded by Dr. Jonathan Rothberg in 2011, Butterfly has created
the world's first handheld, single-probe whole-body ultrasound system, Butterfly iQ. Butterfly Network's mission is to enable universal
access to superior medical imaging, making high-quality ultrasound affordable, easy-to-use, globally accessible, and intelligently
connected, including for the 4.7 billion people around the world lacking access to ultrasound. Through its proprietary Ultrasound-On-Chip
technology, Butterfly Network is paving the way for earlier detection and remote management of health conditions around the world.
The Butterfly iQ can be purchased online today by healthcare practitioners in the United States, Australia, Austria, Belgium, Canada,
Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland,
and the United Kingdom.
Important Information about the Business Combination and
In connection with the proposed business combination between
Longview Acquisition Corp. ("Longview") and Butterfly Network, Inc. ("Butterfly") (the "Business
Combination"), Longview has filed with the Securities and Exchange Commission (the "SEC") a registration statement
on Form S-4 (the "Registration Statement"), which includes a preliminary proxy statement/prospectus and, as amended,
will include a definitive proxy statement/prospectus, and certain other related documents, which will be both the proxy statement
to be distributed to holders of shares of Longview's common stock in connection with Longview's solicitation of proxies
for the vote by Longview's stockholders with respect to the Business Combination and other matters as may be described in
the Registration Statement, as well as the prospectus relating to the offer and sale of the securities of Longview to be issued
in the Business Combination. Longview's stockholders and other interested persons are advised to read the preliminary proxy
statement/prospectus included in the Registration Statement and the amendments thereto and the definitive proxy statement/prospectus
when available, as well as other documents filed with the SEC in connection with the proposed Business Combination, as these materials
will contain important information about the parties to the Business Combination Agreement, Longview and the proposed Business
Combination. After the Registration Statement is declared effective, the definitive proxy statement/prospectus and other relevant
materials for the proposed Business Combination will be mailed to stockholders of Longview as of January 15, 2021, the record date
established for voting on the proposed Business Combination and other matters as may be described in the Registration Statement.
Stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus,
and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC's
web site at www.sec.gov, or by directing a request to: Longview Acquisition Corp., 767 Fifth Avenue, 44th Floor, New York, NY 10153,
Attention: Mark Horowitz, Chief Financial Officer or to info@longviewacquisition.com.
Participants in the Solicitation
Longview and its directors and executive officers may be deemed
participants in the solicitation of proxies from Longview's stockholders with respect to the Business Combination. A list
of the names of those directors and executive officers and a description of their interests in Longview is contained in the Registration
Statement for the Business Combination, and will be available free of charge at the SEC's web site at www.sec.gov, or by
directing a request to Longview Acquisition Corp., 767 Fifth Avenue, 44th Floor, New York, NY 10153, Attention: Mark Horowitz,
Chief Financial Officer or to info@longviewacquisition.com. Additional information regarding the interests of such participants
is contained in the Registration Statement.
Butterfly and its directors and executive officers may also
be deemed to be participants in the solicitation of proxies from the stockholders of Longview in connection with the Business Combination.
A list of the names of such directors and executive officers and information regarding their interests in the Business Combination
is contained in the Registration Statement.
Forward-Looking Statements
This press release includes "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Butterfly's
actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking