Kirkland-based wearable defibrillator company Kestra Medical Technologies has raised $196 million.
With the funding, announced Wednesday, the company said it is looking to expand its commercialization efforts. According to a news release, health care providers have prescribed Kestra's technology to more than 10,000 patients.
"This oversubscribed financing is validation of the excitement and confidence that new and existing investors have for Kestra," CEO Brian Webster said in the release. "With this funding, our team is ready to aggressively compete."
On its website, Kestra has more than 20 open sales and finance roles.
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Kestra, founded in 2014, makes a wearable defibrillator that monitors patients' heart rhythms and automatically delivers a shock to patients' hearts if it detects an arrhythmia. The system will first warn patients, who can stop the shock if they choose. Patients can wear the system under their clothes, and the system is machine washable. It comes with a monitor that patients can clip to a belt or carry over their shoulders.
In addition to the defibrillator, Kestra offers an app that can collect heart data for patients. Kestra can also send this data to health care professionals to help them monitor patients.
Webster took over as CEO of Kestra in 2016, according to his LinkedIn page. Before that, he spent about 24 years at Physio-Control, which made defibrillators and monitors. Stryker acquired Physio-Control in 2016 for $1.28 billion.
Andera Partners, Ally Bridge Group, Longitude Capital and Omega Funds co-led the round. T. Rowe Price, Eventide Asset Management, Gilmartin Capital, Bain Capital and Endeavour Vision participated. Bain Capital and leaders in the defibrillation industry first launched Kestra.
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