Healthcare Capital Corp. (HCCCW) operates as a blank check company whose primary business is to effect mergers, capital stock exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations, with a focus on the healthcare sector including digital and telehealth, life sciences, and innovative medical technologies. The company, founded in 2020 and headquartered in Wilmington, Delaware, targets innovative healthcare enterprises globally to provide capital, expertise, and guidance for their transition to public ownership. It does not currently engage in significant operations beyond pursuing and completing such transactions.
In March 2022, Healthcare Capital Corp. completed a business combination with Alpha Tau Medical Ltd., a developer of alpha-radiation cancer therapy Alpha DaRT, through which HCCC survived the merger and Alpha Tau became a publicly traded entity on Nasdaq, raising approximately $90 million in gross cash proceeds; this transaction valued Alpha Tau at an implied pre-money equity value of $600 million and included up to $275 million from HCCC's trust account assuming no redemptions, plus PIPE financing. The company went public via IPO in January 2021, raising $275 million, with a 24-month tenor for completing a de-SPAC deal, which was fulfilled by the Alpha Tau merger. No major acquisitions, partnerships, funding rounds, new product launches, or operational changes have been reported since the 2022 merger as of late 2025.