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Kestra Medical (TASE:BLWV) Technologies , Ltd. (NASDAQ:KMTS), a $1.01 billion medical technology company based in Kirkland, Washington, has announced the election of Conor Hanley to its Board of Directors. The announcement comes as the company’s stock has declined 11.37% over the past week, trading near its 52-week low. This decision was made by the Board on Wednesday and is effective immediately. Hanley, currently the CEO of Foundry Innovation & Research 1, Ltd. (FIRE1), brings extensive leadership experience from his previous roles at ResMed Inc (NYSE:RMD). and as co-founder of BiancaMed, Inc.
Alongside this appointment, Kestra Medical Technologies disclosed amendments to the employment agreements of three executives: Brian Webster, Vaseem Mahboob, and Traci S. Umberger. These amendments redefine the term "Good Reason" in relation to executive termination, encompassing circumstances such as significant changes in job responsibilities or a reduction in compensation.
The company confirmed that Hanley is deemed independent under Nasdaq’s standards and will not serve on any board committees at this time. The amendments and Hanley’s appointment were detailed in an 8-K filing with the Securities and Exchange Commission.
In other recent news, Kestra Medical Technologies reported significant financial results for its fiscal third quarter of 2025, marking its first earnings report since going public. The company achieved an 82% year-over-year increase in revenue, totaling $15.1 million, driven primarily by the success of its ASSURE wearable cardiac defibrillator. Despite this growth, Kestra reported a net loss of $21.8 million. The company anticipates full-year revenue to be between $58 million and $58.5 million, suggesting a growth rate of 109-110% compared to the previous year.
Stifel analysts maintained a Buy rating for Kestra, setting a $28 price target, while Piper Sandler kept an Overweight rating with a $27 target. Analysts highlighted Kestra’s strong market presence, particularly in the top 50 hospitals, where it holds a market share exceeding 45%. The company’s gross margin improved to 43.4%, attributed to a higher mix of in-network patients and volume leverage. Kestra’s management has also indicated that recent tariff announcements will not impact its gross margins due to reliance on domestic manufacturing. These developments underscore Kestra’s potential for further market expansion and financial growth.
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