Stryker
(NYSE: SYK)
today announced a definitive agreement to acquire chronic lower back pain treatment developer Vertos Medical.
Privately held Vertos Medical develops a minimally invasive surgical solution for the lower back pain caused by lumbar spinal stenosis. Its Mild procedure involves going through a 5.1-mm incision to remove excess, thickened ligament tissue to restore space in the spinal canal and reduce the pressure on the spinal nerves. The procedure provides a solution for pain relief and may improve mobility without the need for major surgery, according to the company.
The acquisition is the second announced by Stryker this month alone, as the orthopedic giant has remained on offense regarding M&A. It shared plans to acquire AI-assisted virtual care company Care.ai on Aug. 12. Other deals made in 2024 alone include the completed acquisitions of Molli Surgical, Artelon and SERF SAS.
“We are committed to helping customers restore patients’ quality of life with interventional solutions to address chronic pain,” said Andy Pierce, group president, MedSurg and Neurotechnology, Stryker. “This acquisition strengthens our minimally invasive pain management portfolio with differentiated treatments and expands our reach across ambulatory surgery centers.”
Portage, Michigan–based Stryker said the transaction remains subject to customary closing conditions. The companies intend to operate as separate entities and proceed with business as usual until the transaction closes. Stryker declined to provide an anticipated closing timeline for the acquisition.
“Allowing patients to get back to what matters most to them is what matters most to us,” said Eric Wichems, Vertos Medical CEO. “Stryker’s mission and focus on interventional solutions provides an opportunity to further improve patients’ quality of life.”
