Bain-backed Kestra Medical set to open 95% above offer price after upsized $202 mln IPO

Shares of medical device maker Kestra Medical Technologies KMTS.O set to open 95% above offer price in Nasdaq debut

Stock indicated to open at $33.15 vs $17 IPO price

KMTS, backed by buyout firm Bain Capital, sold ~11.9 mln shares in its upsized offering - 19% more than initially offered, and above its marketed range of $14 and $16 apiece to raise $202 mln

Listing marks first notable March IPO and the third medical device maker flotation in New York since October

KMTS competes in the wearable cardioverter defibrillator market that has been dominated by Zoll Medical

BofA Securities, Goldman Sachs and Piper Sandler were the lead bookrunners for the offering