Stryker has announced a definitive agreement to acquire Vertos Medical Inc., a privately held company offering minimally invasive solutions for chronic lower back pain, expanding Stryker's interventional pain management offerings, particularly in the area of lumbar spinal stenosis.
Vertos Medical's signature treatment, the mild procedure, relieves lumbar spinal stenosis pain without the need for major surgery. The minimally invasive approach means reduced recovery times and a quicker return to daily activities.
Andy Pierce, group president of MedSurg and Neurotechnology at Stryker, highlighted the strategic importance of the acquisition, stating, "This acquisition strengthens our minimally invasive pain management portfolio with differentiated treatments, and expands our reach across ambulatory surgery centers." Stryker aims to enhance its position in the market by offering more comprehensive solutions for chronic pain management, particularly in outpatient settings.
The transaction is subject to customary closing conditions. Until the deal is finalized, both Stryker and Vertos Medical will continue to operate as separate entities, maintaining their current business operations.
"Allowing patients to get back to what matters most to them is what matters most to us," Eric Wichems, CEO of Vertos Medical said. "Stryker's mission and focus on interventional solutions provide an opportunity to further improve patients' quality of life."
Stryker, headquartered in Portage, Michigan, impacts over 150 million patients annually through its portfolio of products and services.
