Kestra Medical Technologies Secures Up to $200 Million of Non-Dilutive Financing

KIRKLAND, Wash., July 14, 2026 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (Nasdaq: KMTS), a leading wearable medical device and digital healthcare company, today announced that it has entered into a five-year term loan facility with funds managed by Pharmakon Advisors, LP.

The non-dilutive financing consists of:

• $75 million tranche funded at closing, a portion of which was used to retire Kestra's existing $45 million term loan and pay fees and expenses.

• $25 million tranche available at Kestra's option through July 2027.

• $50 million tranche available at Kestra's option through June 2028, subject to generating $150 million of trailing 12-months revenue.

• $50 million uncommitted tranche available for acquisitions at Kestra's option, subject to Pharmakon's consent.

The term loan provides for 48 months of interest-only payments, which may be extended by an additional 12 months upon satisfaction of a revenue milestone. Interest will be paid quarterly at a rate per annum equal to the 3-month secured overnight financing rate (SOFR) plus 5.5%, subject to a SOFR floor of 3.25%.

"This financing fortifies Kestra's balance sheet, reduces the company's cost of capital, and provides us significant financial flexibility," said Brian Webster, President and CEO. "Given our strong commercial momentum and the attractive unit economics inherent in our business model, we plan on continuing to invest in our growth strategies, positioning Kestra to deliver durable, best-in-class growth for years to come."

Kestra reported cash, cash equivalents and investments of $262 million as of April 30, 2026. Including unused availability under the new term loan agreement (excluding the uncommitted tranche), Kestra has total liquidity of approximately $357 million.

Armentum Partners served as financial advisor to Kestra on the financing. Additional details of the term loan agreement will be filed today with the Securities and Exchange Commission in a Current Report on Form 8-K.

About Kestra
Kestra Medical Technologies, Ltd. is a leading 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. For more information, visit www.kestramedical.com.

About Pharmakon Advisors, LP
Pharmakon Advisors, LP is a leading investor in non-dilutive debt for the life sciences industry and serves as the investment manager for the BioPharma Credit funds. Established in 2009, funds managed by Pharmakon Advisors have committed $12.7 billion across 81 investments.