This work presents a dual-band wireless power transfer (WPT) system with high figure of merit (FoM). One band can be used for power transfer and another for data transfer in biomedical applications. A Bow-tie Defected Ground Structure (DGS) resonators with high quality (Q-) factor and coupling (k-) factor is utilized for ensuring high efficiency. An equivalent circuit model using the admittance (J-) inverters is utilized to design the admittance inversion and compensation networks. The measured result shows that the proposed WPT system is able to transfer the power at both of the bands with a highFoM, making a suitable candidate for compact near filed WPT applications.