Stryker Corporation (NYSE: SYK) recently announced 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.
As a result of the acquisition, Stryker is set to expand its minimally invasive pain management portfolio with differentiated treatments and expand its reach across ambulatory surgery centers.
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A significant number of individuals worldwide are impacted by lumbar spinal stenosis, which is the leading cause of pain and impairment. Nowadays, patients prefer quicker recovery periods and faster return to their regular lives. Thus, they are looking for the least invasive therapy alternatives. Vertos Medical's mild procedure provides a solution for pain relief and is likely to improve mobility without the need for major surgery.
This acquisition is likely to boost Stryker's minimally invasive pain management portfolio as the company continues to help its customers in restoring patients' quality of life with interventional solutions to address chronic pain.
This transaction is subject to customary closing conditions. Stryker and Vertos Medical are likely to continue to operate as separate entities and proceed with business as usual until the transaction closes.
More on Stryker's Past Acquisitions
Stryker has been following an acquisition-driven strategy to boost its growth profile.
In August, Stryker announced the completion of the acquisition of MOLLI Surgical Inc., a privately held company specializing in the development of wire-free soft tissue localization technology for breast-conserving surgery. As a result of the acquisition, MOLLI's portfolio is likely to boost Stryker's ...
