MENLO PARK, Calif., March 4, 2025 -- 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.
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