Stryker has already agreed to acquire multiple companies this year, and the medtech giant is showing no signs of slowing down after picking up back pain specialist Vertos Medical.
Similar to previous deals announced recently, the financial and expected time of completion were not disclosed.
Go deeper with GlobalData
US-based Vertos has developed a minimally invasive solution for lumbar spinal stenosis – a condition where spinal nerves are compressed in the lower back, causing pain and mobility issues.
The company’s procedure, named ‘mild’, treats the condition by removing excess, thickened ligament tissue to restore space in the spinal canal and reduce the pressure on the spinal nerves.
According to Vertos, its approach is suitable for patients who have tried physical therapy, pain medication, and chiropractic treatments without success. The procedure does not require general anaesthesia or implants and is conducted through a 5.1mm incision.
With a market cap of $131.6bn, Stryker said itself and Vertos will operate as separate entities until the deal goes through.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataStryker Medsurg and neurotechnology group president Andy Pierce said: “We are committed to helping customers restore patients’ quality of life with interventional solutions to address chronic pain. This acquisition strengthens our minimally invasive pain management portfolio with differentiated treatments and expands our reach across ambulatory surgery centres.”
The deal is the latest in a recent string of acquisitions by Stryker, who announced in a Q2 earnings call that merger and acquisition activity was expected to continue.
In a 30 July earnings call, Stryker CEO Kevin Lobo told investors to expect a “very active deal pipeline” for the second half of this year.
Earlier this month, the company acquired care.ai, a company specialising in AI-assisted virtual care workflows and smart room technology. Stryker said the acquisition would integrate seamlessly with its Vocera platform, acquired in a previous $3bn purchase of Vocera Communications.
Last month, Stryker also acquired Artelon, a tendon and ligament injury specialist and Molli Surgical, a developer of a miniature breast cancer marker to guide tumour removal surgeries.
French orthopaedic implant developer Serf SAS and manufacturer of stainless-steel walls for operating rooms, mfPHD, were also added to Stryker’s rosters in March and April respectively.
