Successfully Advising Kestra Medical Technologies On US$232 Million IPO

We acted as Kestra Medical Technologies, Ltd.'s (Kestra) Bermuda legal counsel in relation to its upsized public listing of 13,664,704 common shares at a public offering price of $17.00 per share (IPO). The total gross proceeds from the IPO, before deducting underwriting discounts and commissions and other offering expenses payable by Kestra, were approximately US$232 million. Kestra’s common shares began trading on the Nasdaq Global Select Market on 6 March 2025, under the ticker symbol "KMTS".

Kestra 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.

Our team was led by Corporate partners Natalie Neto and Rachel Nightingale together with senior associate Marah Smith and associates Karina Skinner and Aariyen Murray. Kirkland & Ellis acted as onshore counsel to Kestra.

BofA Securities, Goldman Sachs & Co. LLC and Piper Sandler acted as lead bookrunners for the IPO. Wells Fargo Securities and Stifel acted as bookrunners and Wolfe Nomura Alliance acted as co-manager for the IPO.

The proceeds from the IPO provide Kestra with significant capital for business growth and expansion as well as enhancing its visibility and credibility in the financial markets.