KIRKLAND, Wash.--(BUSINESS WIRE)--Kestra Medical Technologies, Inc., a privately held wearable medical device and digital healthcare company, today announced that Raymond W. Cohen has joined the board of directors as a new independent board director.
Brian Webster, President & CEO of Kestra said, “Ray is one of the most experienced and accomplished leaders in the medical device industry with multiple decades of success in developing and commercializing emerging medical technologies. Mr. Cohen’s extensive experience in the external defibrillation field and commercial growth strategies will be invaluable to the Kestra team. His track record of strategic exits for both public and private companies, including Axonics’ successful IPO and shareholder value creation as a public entity will accrue to our benefit as we envision the future of Kestra. On behalf of the Kestra stakeholders, we are delighted to welcome him on the board of Kestra.”
Mr. Cohen is an accredited public company director with more than 40 years of life sciences industry experience. He currently serves as CEO and board member at Irvine, CA-based Axonics Inc., (Nasdaq: AXNX) a global medtech company Cohen cofounded in late 2013 and took public in October 2018. Earlier this year, Axonics agreed to be acquired by Boston Scientific for $3.7 billion. Axonics topped the 2021 Deloitte Technology Fast 500 and the 2022 Financial Times ranking of the 500 fastest growing companies in the Americas. Cohen also serves as an independent director of SoniVie Ltd., a clinical-stage company developing a device treatment for hypertension and BiVACOR, Inc., a clinical-stage company developing a Total Artificial Heart. Cohen recently received the 2024 MedTech MVP Award and was also named Businessperson of the Year by the Orange County Business Journal. In 2021, Mr. Cohen received a lifetime achievement award from SoCal Bio for his four decades of work in medical technology. In 2020, Cohen was named Entrepreneur of the Year by Ernst & Young for the Southwest US.
Raymond W. Cohen said, “Kestra has a world-class wearable defibrillator product and is poised to compete aggressively in this former monopoly market which is estimated to be in the $1B revenue range. I am looking forward to sharing my experience with Kestra and supporting Mr. Webster and team as they strive to reach their goal of market leadership in the WCD arena.”
Kestra Medical Technologies, Inc., recently closed a $196 million funding round to support the expansion of the commercial organization and advance its mission of protecting at-risk patients with its unique wearable cardioverter defibrillator. The round was co-led by Andera Partners, Ally Bridge Group, Longitude Capital, and Omega Funds. Also participating were new investors, funds and accounts advised by T. Rowe Price Investment Management, Inc., Eventide Asset Management, and Gilmartin Capital. Long-term Investors Bain Capital and Endeavour Vision also participated in the round.
About Kestra
Kestra Medical Technologies, Inc. is a privately held wearable medical device and digital healthcare company that protects cardiac patients with diagnostic monitoring and therapeutic technologies that are intuitive, intelligent, and mobile. Kestra was founded in 2014 by leaders from the external (AED) and implantable (ICD) defibrillation industries. Based in Kirkland, Washington, Kestra has historically been funded by Bain Capital, one of the world’s leading private equity firms with deep global experience in healthcare. For more information, visit www.kestramedical.com.
