Medical technologies giant Stryker announced on Tuesday, October 1st, that it completed the acquisition of Vertos Medical for an undisclosed amount. Vertos Medical is a privately held company specializing in interventional pain management solutions for chronic back pain caused by lumbar spinal stenosis.
mild®, Vertos Medical’s device for treating lumbar spinal stenosis (LSS), is a minimally invasive, outpatient procedure that decompresses the lumbar spine by creating space in the central canal through a small 5.1-millimeter incision. The procedure treats hypertrophic ligamentum flavum, a major root cause of LSS, without the need for general anesthesia or stitches.
“The acquisition of Vertos Medical enhances our unique, non-surgical solutions for interventionalists addressing chronic lower back pain, while broadening our presence in ambulatory surgery centers. We look forward to enabling physicians with the minimally invasive mild® procedure so patients can reclaim their quality of life,” said Andy Pierce, Group President of the MedSurg and Neurotechnology business units at Stryker.
The purchase of Vertos Medical is Stryker’s latest in a string of recent acquisitions in a variety of technology areas. In the past year, Stryker has also acquired an additional six companies and two new products. These include companies specializing in surgical technologies, such as NICO Corporation, which provides minimally invasive treatment solutions for brain tumors and intracerebral hemorrhages, and MOLLI Surgical, which provides wire-free soft tissue localization technologies for breast conserving surgery. Stryker also added to its orthopedic portfolio with the purchase of Artelon, which specializes in foot and ankle soft tissue fixation products, SERF SAS, a French joint replacement company, and two foot and ankle implant products from 4WEB Medical. In addition, Stryker recently acquired care.ai, which delivers AI-assisted virtual care workflows, smart room technology, and ambient intelligence solutions, and mfPHD, which provides modular stainless steel wall systems for operating rooms.
A team from Knobbe Martens advised Vertos Medical in the deal. The team included partners Paul Stellman, Sabing Lee (co-chair of the firm’s medical devices and procedures practice), Jonathan Menkes, Paige Cappelli, Julie Vo, and Zach Grinovich.
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