AVS develops an intravascular lithotripsy (IVL) platform designed to treat calcified peripheral arterial disease (PAD). It uses pulsed CO₂-generated pressure waves delivered uniformly through an IVL balloon catheter. This process fractures calcium and optimizes luminal gain while enhancing catheter delivery, treatment speed and therapy efficiency.
Waltham, Massachusetts–based AVS received FDA investigational device exemption for its Pulse system in 2024. Last fall, the company shared encouraging clinical results for the IVL platform.
Portage, Michigan–based Stryker’s latest strategic move marks its entry into the hot IVL space currently led by Johnson & Johnson’s Shockwave Medical. Other companies, such as FastWave Medical, Elixir Medical and Vantis Vascular are advancing IVL platforms. Boston Scientific entered the fray with its acquisition of Bolt Medical last year. Abbott also has its own system in the works.
Stryker expects the acquisition to strengthen its Peripheral Vascular (PV) portfolio, adding revascularization technology. It marks the latest addition to that portfolio after the 2025 acquisition of Inari Medical.
“This acquisition is a significant milestone in expanding our peripheral vascular portfolio and enhancing our ability to address challenging arterial disease,” said Kevin Lobo, chair and CEO, Stryker. “By integrating AVS’s innovative CO₂-generated pressure wave technology with Stryker’s scale and resources, we are well-positioned to deliver solutions that support physicians and patient outcomes.”
