Kestra Medical Technologies, which makes a wearable cardioverter defibrillator for higher-risk cardiac arrest patients, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Kestra is commercializing its Cardiac Recovery System platform, a comprehensive and advanced system that integrates monitoring, therapeutic treatment, digital health, and patient support services into a single, unified solution. The cornerstone of the platform is the ASSURE WCD, a next generation wearable cardioverter defibrillator (WCD) used to protect patients at an elevated risk of sudden cardiac arrest. As of January 31, 2025, Kestra's system is actively being prescribed by more than 550 hospitals across the US (~20% of the country's WCD prescribing hospitals) and has been worn by over 17,000 patients since it was fully commercially launched in August 2022.
The Kirkland, WA-based company was founded in 2014 and booked $46 million in sales for the 12 months ended October 31, 2024. It plans to list on the Nasdaq under the symbol KMTS. Kestra Medical Technologies filed confidentially on August 25, 2021. BofA Securities, Goldman Sachs, Piper Sandler, Wells Fargo Securities, and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
