Profusa initiates strategic review to evaluate potential transactions

Profusa Inc. (NASDAQ: PFSA) announced its board of directors has initiated a process to evaluate strategic alternatives aimed at maximizing shareholder value. The digital health company has engaged Tungsten Advisors as its exclusive financial advisor for the review.

The process will consider various options including asset-level transactions, commercial partnerships, business combinations and other corporate transactions. The company stated there is no assurance the process will result in any transaction or strategic outcome.

Profusa is focusing resources on near-term commercial milestones, including advancing European CE Mark approval for its Lumee Oxygen platform through notified body GMED under EU Medical Device Regulation. The company completed two required on-site audits and anticipates GMED will complete its process in the third quarter or early fourth quarter of 2026.

"Profusa's priority is to concentrate the Company around the assets, milestones and strategic opportunities we believe can drive the greatest long-term value for stockholders," said Ben Hwang, chairman and chief executive officer.

The company is also pursuing revenue opportunities through its Healthcare Research business for research-use-only applications.

Separately, Profusa entered into an asset purchase agreement on April 21, 2026, with Bio Insights LLC to acquire substantially all know-how assets related to the PanOmics Assay, a multi-omics analysis platform used in drug discovery and precision medicine. The transaction requires stockholder approval for securities issuance under Nasdaq rules.

Profusa develops tissue-integrated biosensors for continuous medical-grade data transmission and is based in Berkeley, California.

You May Also Be Interested In

• Intel mulls partnership for Ohio chip fab, SK Hynix among candidates - report
• Penske Automotive confirms $210-per-share take-private proposal
• NovaGold to reincorporate in Delaware via arrangement with Paulson