Kestra Medical Technologies (KMTS) 8th Annual Wolfe Research Healthcare Conference summary

WCD market growth and demand

• WCD market grew 14% over the last 12 months, based on internal estimates and recent ZOLL and Kestra earnings; wearability, fewer false alarms, gender-specific design, clinical data and education support demand.

• Heart failure patients are growing faster than post-MI patients and typically wear the device longer, supporting rental economics.

• Management estimates 75% of market growth came from existing prescribers and 25% from new prescribers.

• ACE-PAS included 21,000 patients and indicated higher-than-appreciated risk, particularly for heart failure patients.

Clinical evidence and guidelines

• Guidelines are largely at a 2b indication; management sees potential for reassessment toward 2a as evidence accumulates, but its long-range model assumes no guideline change.

• Management views ACE-PAS patient outcome data, including survival and post-shock outcomes, as a potential missing evidence component; positive results could prompt guideline review.

• A recent HRS expert committee paper strongly recommended WCD use in some populations, including ischemic cardiomyopathy and heart failure.

• Management expects business growth in the top decile of med tech without guideline changes; a change could accelerate growth.

Commercial execution and coverage

• U.S. coverage is ~70%; commercial strategy prioritizes deeper resourcing in high-producing regions and territories with strong insurance coverage and prescriber concentration.

• Internal recruiting has been strengthened; the candidate funnel has included more people from large-cap cardio companies over the last 12 months.

• Training time has doubled, adding territory planning, richer data, scenario role-play and EMR access processes; management sees faster sales-team productivity ramps.

• Sole-source opportunities are expected mainly in integrated delivery networks with end-to-end control; monitoring data may support readmission-related use cases.