Kestra Medical Technologies Files for $100 Million IPO

Kestra Medical Technologies Ltd., a leader in wearable medical devices, has filed for an initial public offering (IPO) aiming to raise up to $100 million. The company reported substantial revenue growth, with revenues rising to $27.5 million in the last six months, compared to $9.5 million the previous year, despite a net loss of $40.9 million. Kestra's flagship product, the ASSURE WCD, is a next-generation wearable cardioverter defibrillator that is currently prescribed in over 550 hospitals across the U.S. and has been used by more than 17,000 patients since its launch in August 2022. The IPO follows a favorable trend in the U.S. healthcare sector, where companies have collectively raised significant funds this year. Financial institutions including Bank of America and Goldman Sachs are set to manage the offering, with shares planned to be listed on the Nasdaq under the symbol KMTS. The IPO reflects the increasing demand for innovative wearable medical solutions, indicating a positive outlook for the sector.