With more than three weeks left in the first quarter, the value of med-tech IPOs for 2025 already exceeds the funds raised from all IPOs for med-tech companies in the last two years combined. Kestra Medical Technologies Ltd. provides a clear example of how fast the market is heating up, with a final IPO that raked in more than twice as much as initially expected, while Advanced Biomed Inc. shows the appeal of the U.S. exchanges for non-U.S. companies.