Kestra (KMTS.US), a wearable medical device company, has filed for an IPO in the US to raise $100 million.

Wearable medical device company Kestra Medical Technologies has filed for an initial public offering (IPO) to raise $100 million. The IPO pricing terms have not been disclosed. The company plans to list on the Nasdaq under the ticker "KMTS".

According to the filing, Kestra is a company that produces wearable cardiac defibrillators for high-risk cardiac arrest patients. Its wearable cardiac defibrillator system, ASSURE WCD, represents next-generation technology for cardiac monitoring and defibrillation therapy, offering a variety of functions including automatic detection and defibrillation, arrhythmia analysis, and compatibility with a remote patient data platform, which has been approved by the U.S. Food and Drug Administration (FDA).

Data shows that as of January 31, 2025, Kestra's wearable cardiac defibrillator system has been actively used in over 550 hospitals in the U.S. (about 20% of the hospitals that have issued WCD prescriptions in the U.S.); since its full commercial launch in August 2022, it has been used by over 17,000 patients. In addition, the company's 12-month sales as of October 31, 2024, were $46 million.

Kestra's investors include Bain Capital LP and Endeavour Vision. The company raised $196 million in a funding round last July, led by Andera Partners, Ally Bridge Group, Longitude Capital, and Omega Funds.