Kestra Medical Technologies has entered into a five-year term loan facility with Pharmakon Advisors for up to $200 million in non-dilutive financing. The deal includes a $75 million tranche funded at closing, which retired an existing $45 million term loan and covered fees, with additional tranches of $25 million available through July 2027, $50 million available through June 2028 contingent on $150 million in trailing 12-month revenue, and a $50 million uncommitted tranche for acquisitions. The loan features 48 months of interest-only payments, extendable by 12 months upon meeting revenue milestones, with interest at the 3-month SOFR plus 5.5% and a 3.25% floor. Kestra reported $262 million in cash and investments as of April 30, 2026, and total liquidity of approximately $357 million including the new facility. CEO Brian Webster said the financing strengthens the balance sheet, lowers the cost of capital, and provides flexibility for growth investments.
Kestra Medical Technologies, Ltd. Common StockSecured $200M non-dilutive financing, retired existing debt, lowered cost of capital, and strengthened balance sheet.
Pharmakon Advisors provided the loan, earning interest income and fees.