Kestra Medical (KMTS.US) priced its IPO at $14-$16/share, raising $150 million.

Kestra Medical Technologies, Inc. announced the terms of its initial public offering (IPO) on Wednesday. The company produces wearable cardiac defibrillators for high-risk cardiac arrest patients. The company plans to issue 10 million shares at a price of $14 to $16, raising $150 million. At the midpoint of the proposed price range, Kestra Medical Technologies' fully diluted market capitalization would be $716 million.

Kestra is commercializing its cardiac rehabilitation system platform, an integrated and advanced system that combines monitoring, treatment, digital health, and patient support services into a unified solution. The platform's foundation is the ASSURE WCD, a next-generation wearable cardiac defibrillator (WCD) for patients at higher risk of cardiac arrest. As of January 31, 2025, Kestra's system has been adopted by over 550 hospitals in the United States (approximately 20% of WCD-prescribing hospitals nationwide), with over 17,000 patients using the system since its full commercialization in August 2022.

The Company's sales for the twelve months ended October 31, 2024 were $46 million. The Company plans to list on the Nasdaq under the ticker symbol KMTS. Bank of America Securities, Goldman, Piper Sandler, Wells Fargo Securities, and Stifel are joint bookrunners for the transaction. Pricing is expected to occur during the week of March 3, 2025.