RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

12. RELATED PARTY TRANSACTIONS

The Company utilizes and subleases office and lab space in Connecticut, which is being leased from an unrelated landlord by 4Catalyzer Corporation (“4C”), which is owned by a related party. The Company pays rent to 4C on a month-to-month basis. A total of approximately $509 and $399 was paid during years ended December 31, 2024 and 2023, respectively.

Legacy Hyperfine entered into a Master Services Agreement (the “Master Services Agreement”) with 4C effective as of July 7, 2021 pursuant to which Hyperfine may engage 4C to provide services such as general administration, facilities, information technology, financing, legal, human resources and other services, through future statements of work and under terms and conditions to be determined by the parties with respect to any services to be provided. The Company paid an aggregate of $132 and $178 during the years ended December 31, 2024 and 2023, respectively, under the Master Services Agreement. As of each of December 31, 2024 and December 31, 2023, there was $61 due to 4C for expenses paid on the Company's behalf. These payables are included in due to related parties on the condensed consolidated balance sheet.