Stryker, a global leader in medical technologies, announced today a definitive agreement to acquire Vertos Medical Inc., a privately held company providing a minimally invasive solution for treating chronic lower back pain caused by lumbar spinal stenosis.
Vertos Medical is a privately held medical device company that develops, manufactures, and sells surgical instruments to perform minimally invasive procedures intended to treat lumbar spinal stenosis. Founded in 2005, the company is currently headquartered in Aliso Viejo, California.
Stryker develops, manufactures and markets specialty surgical and medical products. These include orthopedic implants, powered surgical instruments, endoscopic systems and patient care and handling equipment. Stryker impacts more than 150 million patients annually. According to its most recent annual report, Stryker’s revenue for the 12 months ending December 31, 2023, was $20.5 billion.
This transaction is subject to customary closing conditions. Stryker and Vertos Medical Inc. will continue to operate as separate entities and proceed with business as usual until the transaction closes. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, there have been 60 Medical Device deals announced so far in 2024. There were 113 Medical Device deals announced during 2023, and 124 announced during 2022. This also marks Stryker’s fifth acquisition announcement of 2024. The company has also acquired SERF, Artelon, MOLLI Surgical and care.ai.
