Ajax Health and KKR Form New Platform to Develop System for Treating Heart Failure

Rhea-AI Summary

Ajax Health, backed by KKR, has announced the formation of FlowMod, a new collaboration with Boston Scientific to develop a heart failure treatment system. The initiative aims to accelerate development, clinical validation, and regulatory approval for treating a condition affecting 64 million people worldwide.

FlowMod will be led by CEO Dr. Philippe Marco, former President and COO of Epix Therapeutics and CV Ingenuity. The venture is supported by KKR's Health Care Strategic Growth Fund II, a $4.0 billion fund focused on high-growth healthcare companies. The platform will utilize intellectual property developed by Boston Scientific to create a differentiated solution for physicians and patients in heart failure treatment.

Positive

• Formation of new treatment platform addressing large market of 64M heart failure patients
• Access to Boston Scientific's intellectual property
• Backed by KKR's $4.0B Healthcare Strategic Growth Fund II
• Experienced leadership with track record in cardiovascular device approvals

Negative

• Early-stage development with no immediate revenue generation
• Pending regulatory approvals and clinical validations required
• Competitive market in heart failure treatment space

MENLO PARK, Calif., March 4, 2025 /PRNewswire/ -- Ajax Health, a KKR-backed medical device platform, today announced the formation of a new entity, FlowMod. The new organization is the result of a collaboration between Boston Scientific Corporation, Ajax Health, and KKR, utilizing intellectual property developed by Boston Scientific. FlowMod intends to accelerate the creation, clinical validation, and regulatory approval for a system treating heart failure, a condition that affects pumping action of the heart muscles and currently impacts 64 million people worldwide.¹

"On the heels of the Cortex transaction with Boston Scientific, we are thrilled to pursue this new path in interventional heart failure and the benefits it may bring to the millions of patients affected by this disease each year," said Duke Rohlen, Chief Executive Officer, Ajax Health. "Through this collaboration, we intend to bring a differentiated solution to physicians and their patients that we believe will make a positive impact on how heart failure is treated."

"We are pleased to collaborate with both Ajax Health and Boston Scientific, innovate productively alongside leading strategic partners, and help advance promising medical technology for the benefit of cardiovascular disease patients worldwide," said Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR.

FlowMod will be led by Chief Executive Officer Dr. Philippe Marco, former President and Chief Operations Officer of Epix Therapeutics and CV Ingenuity, both of which were Ajax-led companies that obtained pre-market approval for groundbreaking cardiovascular devices. 

"I am excited to work with the Ajax Health and KKR leadership teams again," said Dr. Marco. "We look forward to developing a meaningful advancement in the treatment of patients with heart failure, building upon the foundation established by Boston Scientific."

KKR is investing in FlowMod through its KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies.

About Ajax Health

Ajax Health is a turnkey growth solution for commercial-stage medtech companies. The Ajax team draws on decades of experience as entrepreneurs, operators, and investors to create value for its strategic partners by developing product portfolios through novel business models and creative deal structures. Ajax Health is headquartered in Menlo Park, CA with offices in New York City, Los Angeles, and Austin.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

¹ Bozkurt, Biykem et al. HF Stats 2024: Heart Failure Epidemiology and Outcomes Statistics. An Updated 2024 Report from the Heart Failure Society of America. Journal of Cardiac Failure. 2025 Jan; 31(1):66-116.

Media contacts:

For Ajax Health:
Will Kynes
wkynes@ajaxhealth.com

For KKR:
Julia Kosygina
212-750-8300
media@kkr.com

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SOURCE Ajax Health

FAQ

What is the purpose of KKR and Ajax Health's new FlowMod platform?

FlowMod aims to develop, validate, and obtain regulatory approval for a new heart failure treatment system, addressing a condition affecting 64 million people globally.

Who is leading the new KKR-backed FlowMod venture?

Dr. Philippe Marco, former President and COO of Epix Therapeutics and CV Ingenuity, will serve as FlowMod's CEO.

How is KKR funding the FlowMod initiative?

KKR is investing through its Health Care Strategic Growth Fund II, a $4.0 billion fund focused on high-growth healthcare companies.

Which companies are collaborating in the KKR-backed FlowMod venture?

FlowMod is a collaboration between Ajax Health, KKR, and Boston Scientific , utilizing Boston Scientific's intellectual property.