Stryker expands its offering to include a treatment for back pain through the purchase of Vertos Medical
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Diving certificate:
- Stryker said on Thursday that it had agreed to acquire Vertos Medicalan Aliso Viejo, California-based company whose minimally invasive technology treats chronic lower back pain, for an undisclosed amount.
- The Vertos procedure, which can be performed on an outpatient basis, is intended to provide pain relief to patients with lumbar spinal stenosis by restoring space in the spinal canal and reducing nerve compression.
- “This acquisition strengthens our minimally invasive pain management portfolio with differentiated treatments and expands our reach into outpatient surgery centers,” said Andy Pierce, president of Stryker’s medical and surgical devices and neurotechnology business, in a statement.
Diving insight:
The Vertos deal is Stryker’s second acquisition this month, following CEO Kevin Lobo signaled investors should expect an active deal pipeline in the second half of this year. Stryker has also buys Care.aian Orlando, Florida-based provider of patient monitoring and decision support tools for hospitals.
The Portage, Michigan-based orthopedic company In July, Artelon acquireda manufacturer of soft tissue repair technology, and in March bought the joint replacement company Serf Sas.
While Stryker has made a number of acquisitions, other medical technology companies have made larger deals. On Tuesday, Johnson & Johnson announced that it would pay up to $1.7 billion to takes over the manufacturer of heart failure implants V-Waveafter completing his Purchase of Shockwave Medical for $13.1 billion in May.
Boston Scientific agreed in June to acquire Silk Road Medical for 1.26 billion dollars and proposed buying Axonics in January for 3.7 billion dollars.
Edwards Lifesciences is also busythe admission of new companies and Sale of the intensive care division to BD for $4.2 billion.
During the Vertos procedure, a doctor uses special instruments to remove small pieces of bone and thickened ligaments. The procedure does not require an implant, general anesthesia or stitches.
