Kestra Medical Technologies Ltd. made a high-voltage entrance into the public market on Thursday, launching an electrifying $202 million initial public offering (IPO) that exceeded expectations. The Kirkland, Washington-based company, a pioneer in wearable defibrillator technology, priced its upsized IPO at $17 per share—leaping past its marketed range of $14 to $16. The strong demand led Kestra to increase its initial share offering from 10 million to nearly 11.9 million shares.
With this bold move, Kestra’s valuation surged to an estimated $810 million, based on its 47.65 million outstanding shares disclosed in regulatory filings. Shares began trading on Nasdaq under the ticker “KMTS”, signaling a new chapter for the company.
Life-Saving Innovation Sparks Investor Excitement
Kestra is reshaping the future of cardiac care with its non-invasive, wearable defibrillator, designed for patients at heightened risk of sudden cardiac arrest. The device, discreetly worn under regular clothing, continuously monitors heart rhythms and delivers lifesaving defibrillation shocks when needed.
More than 550 hospitals across the U.S. prescribe the system, and over 17,000 patients have relied on it for protection, according to Kestra’s filing with the U.S. Securities and Exchange Commission (SEC).
