Profusa Makes Progress Towards Closing G3 Acquisition
News related to:Profusa · 1 min read
BERKELEY, Calif., Nov. 12, 2026 /CourierPR/ -- Profusa, a digital health company pioneering next-generation biosensor technologies, has announced significant progress towards closing the Option Agreement with G3 Vision Labs, Inc. (G3), a provider of laboratory testing solutions and diagnostic tools. This progress includes the receipt of G3’s audited financial statements for fiscal years 2024 and 2025, as well as the reviewed unaudited financial statements for the six months ended June 30, 2026.
According to the audited financials, G3’s combined company had a consolidated revenue of $108 million in fiscal year 2025, with an Adjusted EBITDA (non-GAAP) of $5.0 million. The financials also include a one-time settlement of $2 million for the Acutis COVID-19 claim recovery, one-time other income items, and transaction costs related to the Dominion acquisition.
Profusa has also regained compliance with Nasdaq’s continued listing standards, as confirmed by a Nasdaq compliance letter. This compliance is based on the company’s adherence to Listing Rules 5550(a)(2) and 5550(b)(1), which pertain to the bid price and equity rules, respectively.
In its efforts to secure the necessary capital, Profusa has entered into exchange agreements worth $10.7 million to date. These agreements have resulted in the conversion of debt and liabilities into a newly designated series of non-voting convertible preferred stock. Each share of this preferred stock is convertible into 1,000 shares of Profusa common stock, subject to stockholder approval.
To fund its near-term working capital needs, Profusa borrowed $0.7 million in October under its current note agreement with Ascent Partners. The company continues to make progress towards obtaining CE mark approval for its Lumee Oxygen Platform, while effectively managing costs.
The combined company, upon the exercise of the option and closing, is expected to operate as a public diagnostics company. Profusa has previously announced the signing of the Option Agreement, which provides it with the right and option, but not the obligation, to acquire G3, subject to satisfaction of certain conditions.