Kestra Medical Technologies, Ltd. Announces Launch of Initial Public Offering
Rhea-AI Summary
Kestra Medical Technologies, a wearable medical device and digital healthcare company, has announced the launch of its Initial Public Offering (IPO). The company plans to offer 10,000,000 common shares with an expected price range of $14.00 to $16.00 per share.
Underwriters will have a 30-day option to purchase up to 1,500,000 additional shares at the IPO price, less underwriting discounts and commissions. Kestra has applied to list on the Nasdaq Global Select Market under the symbol 'KMTS'.
The offering is led by BofA Securities, Goldman Sachs, and Piper Sandler as lead bookrunners, with Wells Fargo Securities and Stifel as bookrunners and Wolfe | Nomura Alliance as co-manager.
Positive
- IPO could raise up to $184 million at maximum price ($16/share × 11.5M shares)
- Listing on prestigious Nasdaq Global Select Market
- Strong underwriter syndicate including major investment banks
Negative
- Potential shareholder dilution from IPO
- No guarantee of successful IPO completion
- Market volatility could affect final pricing
Insights
Kestra Medical Technologies has launched its IPO, offering 10 million common shares priced between
The impressive underwriter lineup—BofA Securities, Goldman Sachs, and Piper Sandler as lead bookrunners, with Wells Fargo Securities and Stifel as bookrunners—signals strong institutional confidence in Kestra's market position. This level of backing is particularly noteworthy for a specialized medical device company.
Kestra operates at the high-growth intersection of wearable technology and digital healthcare—a sector experiencing rapid expansion driven by remote patient monitoring trends, increasing healthcare digitization, and the shift toward preventative care models. The global wearable medical device market is projected to grow at a CAGR of
The company's decision to go public now, despite recent market volatility, suggests management confidence in their growth trajectory and product differentiation. For investors, this IPO offers exposure to the digital health transformation without the typical software-as-a-service business model risks, instead providing a hardware-plus-recurring-revenue hybrid opportunity.
The listing on Nasdaq Global Select Market—Nasdaq's highest tier with the most stringent financial and liquidity requirements—further validates Kestra's financial health and governance standards, potentially attracting institutional investors who might otherwise avoid smaller healthcare IPOs.
KIRKLAND, Wash., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (“Kestra”), a wearable medical device and digital healthcare company, today announced the launch of its initial public offering of 10,000,000 common shares.
In addition, the underwriters will have a 30-day over-allotment option to purchase up to 1,500,000 additional common shares from Kestra at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between
BofA Securities, Goldman Sachs and Piper Sandler are acting as lead bookrunners for the proposed offering. Wells Fargo Securities and Stifel are acting as bookrunners and Wolfe | Nomura Alliance is acting as co-manager for the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; Goldman Sachs, by email at prospectus-ny@ny.email.gs.com, or by phone number at (866) 471-2526; or Piper Sandler, by email at prospectus@psc.com, or by phone number at (800) 747-3924.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Kestra
Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected.
Disclaimer
“Wolfe | Nomura Alliance” is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura and Wolfe Research Securities are serving as underwriters in the offering described herein. In addition, Wolfe Research Securities may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with the offering.
Investor Contact
Marissa Bych or Webb Campbell
Gilmartin Group
investor.relations@kestramedical.com
FAQ
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