Wearable heart device manufacturer Kestra Medical (KMTS.US) priced its IPO at $17 per share, rising over 28% on its first day of trading.

Wearable heart device manufacturer Kestra Medical Technologies (KMTS.US) issued 11.9 million shares of stock at a price of $17 per share, higher than the expected range of $14-$16, raising $202 million. The company issued 1.9 million more shares than anticipated. Kestra debuted on the NASDAQ on March 6th (Thursday) and saw its stock rise by 28.47% on its first day of trading. Kestra is commercializing its cardiac rehabilitation system platform, which is a comprehensive and advanced system that integrates monitoring, treatment, digital health, and patient support services into a unified solution. The cornerstone of this platform is the ASSURE WCD, which is a next-generation wearable cardiac defibrillator used to protect patients at higher risk of sudden cardiac arrest. As of January 31, 2025, Kestra's system has been adopted by over 550 hospitals in the U.S. (about 20% of all WCD prescription hospitals nationwide), and since its full commercialization in August 2022, over 17,000 patients have used it. Bank of America Corp Securities, Goldman Sachs Group, Inc., Piper Sandler, Wells Fargo & Company Securities, and Stifel are the joint bookrunners for this IPO.