| Key Points: – Kestra Medical Technologies has priced its upsized initial public offering (IPO) of 11,882,352 common shares at $17.00 per share, aiming to raise approximately $202 million. – Shares are set to begin trading on the Nasdaq Global Select Market on March 6, 2025, under the ticker symbol “KMTS.” – Kestra specializes in wearable medical devices and digital healthcare solutions, particularly for cardiovascular disease monitoring and intervention. |
Kestra Medical Technologies, a Kirkland, Washington-based company specializing in wearable medical devices and digital healthcare solutions, has announced the pricing of its upsized initial public offering (IPO). The company is offering 11,882,352 common shares at a public offering price of $17.00 per share, with gross proceeds expected to be approximately $202 million, excluding any exercise of the underwriters’ option to purchase additional shares. This option allows underwriters a 30-day period to acquire up to 1,782,352 additional common shares at the IPO price, less underwriting discounts and commissions.
Trading of Kestra’s common shares is scheduled to commence on March 6, 2025, on the Nasdaq Global Select Market under the ticker symbol “KMTS.” The closing of the offering is anticipated to occur on March 7, 2025, contingent upon the fulfillment of customary closing conditions.
The IPO is being led by prominent financial institutions, with BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler acting as lead bookrunners. Wells Fargo Securities and Stifel are serving as bookrunners, while Wolfe | Nomura Alliance is participating as co-manager for the offering.
Kestra Medical Technologies is a commercial-stage company focused on transforming patient outcomes in cardiovascular disease through intuitive, intelligent, and connected monitoring and therapeutic intervention technologies. Their flagship product, the ASSURE® Wearable Cardioverter Defibrillator (WCD) system, is designed to provide automatic detection and defibrillation for ventricular arrhythmias, offering a modern approach to sudden cardiac arrest protection. The ASSURE system integrates with the Kestra CareStation™ remote patient data platform, enabling configurable notifications for clinical events and trending of physiological and device data at any time.
The company’s decision to go public comes amid increasing demand for wearable medical technology, particularly in the cardiovascular sector. As heart disease remains one of the leading causes of death globally, there is a growing market for advanced monitoring and intervention solutions. Kestra’s innovative approach to real-time monitoring and emergency response through connected devices positions it as a competitive player in this expanding industry. The funds raised through the IPO will likely support further research and development, product expansion, and potential strategic partnerships to enhance its market presence.
Investors will be closely watching the stock’s performance following its debut on the Nasdaq. Given the strong interest in digital healthcare and the increasing adoption of wearable medical devices, Kestra’s IPO could attract significant attention from both institutional and retail investors. The success of this offering could also signal broader investor confidence in the future of digital health solutions, particularly those that leverage artificial intelligence and real-time data tracking to improve patient outcomes.