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The new platform aims to accelerate the creation, clinical validation, and regulatory approval for a heart failure treatment system.
March 6, 2025
By: Michael Barbella
Managing Editor
Ajax Health, a KKR-backed medical device platform, has formed a new entity that will use intellectual property from Boston Scientific Corp. to accelerate the development of heart failure treatment.
The new entity—FlowMod—is a collaboration between Boston Scientific Corporation, Ajax Health, and KKR. Its mission is to accelerate the creation, clinical validation, and regulatory approval for a system to treat 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,” Ajax Health CEO Duke Rohlen said. “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.”
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 healthcare companies.
Related: KKR, Hologic, Ajax Health Create New Platform to Accelerate Medical Device Innovation
“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 CEO 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 cardiovascular devices.
“I am excited to work with the Ajax Health and KKR leadership teams again,” Dr. Marco stated. “We look forward to developing a meaningful advancement in the treatment of patients with heart failure, building upon the foundation established by Boston Scientific.”
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, Calif., with offices in New York City, Los Angeles, and Austin, Texas.
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, 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.
References1 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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