When longtime Stryker CEO John Brown was preparing for the company’s 1979 initial public offering, he set a goal of 20% annual growth every single year. “We did that under John’s leadership for a good 20, 25 years,” Andy Pierce, a 29-year Stryker veteran who’s now president of the MedSurg and Neurotechnology groups, said at […]
Vertos Medical
Stryker completes acquisition of Vertos Medical
Stryker announced today that it completed its acquisition of pain management solution developer Vertos Medical. Portage, Michigan–based Stryker said in August that it agreed to purchase the privately held company for an undisclosed amount. It marked the second acquisition announced by Stryker in August alone. The orthopedic giant continues to make M&A moves across multiple […]
Vertos Medical’s spinal stenosis treatment wins CE mark
Vertos Medical said it has received CE mark approval for its lumbar spinal stenosis (LSS) treatment device kit. Aliso Viejo, Calif.-based Vertos said its Mild device kit enables a minimally invasive procedure to remove the cause of stenosis through a portal the size of a baby aspirin. The procedure requires no stitches, general anesthesia, implants or overnight hospital stays, […]
Sterilis taps ex-Nanosphere CEO McGarrity as chief exec | Personnel Moves – November 1, 2017
Medical sterilization company Sterilis said yesterday it tapped former Nanosphere (NSDQ:NSPH) chief exec Michael McGarrity as its new CEO. McGarrity held the CEO position at Nanosphere from February 2013 to last June when he oversaw the company’s $76.9 million acquisition by Luminex (NSDQ:LMNX). Prior to his time as head of Nanosphere, McGarrity held positions in sales, marketing […]
Vertos Medical raises $28m for Mild spine treatment
Vertos Medical said yesterday that it closed a $28 million financing round for its Mild treatment for lumbar spinal stenosis. The round was led by new investor MVM Life Science Partners, joined by prior backers Leerink Revelation Partners, Pitango Venture Capital, ONSET Ventures and Aweida Venture Partners. MVM partner Hugo Harrod is joining the Vertos board as […]
Vertos Medical wins CMS reimbursement for Mild procedure
Vertos Medical said today it won national coverage for its Mild procedure designed to treat lumbar spinal stenosis from the Centers for Medicare & Medicaid Services. The Mild procedure won coverage through a recently approved study as part of CMS’ Coverage with Evidence Development Program, the Aliso Viejo, Calif.-cased company said. Access to the procedure […]
Medicare denies coverage for Vertos’ spinal device, but leaves room for clinical trials
Updated Jan. 10, 2014, at 4:05 p.m. with comments from Vertos.
The Centers for Medicare & Medicaid Services this month issued a final decision memo rejecting reimbursement for lumbar decompression in treatment of spinal stenosis, largely reiterating a proposal issued in October.
Medicare: No coverage for Vertos Medical’s back pain surgery
California medical device maker Vertos Medical was dealt a blow this week when the Centers for Medicare & Medicaid Services issued a Proposed Decision Memo rejecting coverage for image-guided lumbar decompression surgery in treatment of lumbar spinal stenosis.
Vertos Medical drums up $23M
Vertos Medical announced a $23 million funding round for its outpatient treatment for lumbar spinal stenosis.
The round, led by new investor Pitango Venture Capital, will be used to commercialize Vertos Medical’s mild procedure, according to a press release.
