Stryker signed a definitive agreement to acquire Vertos Medical, a pain management company.
Vertos Medical focuses on treating chronic lower back pain from lumbar spinal stenosis and is behind the Mild procedure, according to an Aug. 22 news release. The acquisition will strengthen Stryker's minimally invasive pain management portfolio and treatments available for ASCs.
In June, Vertos Medical raised $26 million to expand the Mild procedure, and the company promoted two of its leaders to C-suite roles in August.
The transaction is subject to customary closing conditions, and Stryker and Vertos Medical will continue to operate as separate entities.