Vertos Medical is a technology company.
Vertos Medical has raised $109.7M across 7 funding rounds.
Vertos Medical has raised $109.7M in total across 7 funding rounds.
Vertos Medical has raised $109.7M in total across 7 funding rounds.
Vertos Medical's investors include Aphelion Capital, Norwest Venture Partners, Pitango Venture Capital, Mercury Fund.
Vertos Medical is a medical device company that develops the mild® procedure, a minimally invasive, image-guided outpatient treatment for lumbar spinal stenosis (LSS), a condition causing narrowing of the spinal canal and lower back pain.[1][2][3][9] It serves patients who have failed conservative treatments like epidural steroid injections and are not candidates for open surgery, enabling them to restore mobility by removing overgrown ligament tissue through an incision smaller than a baby aspirin, without implants, general anesthesia, or stitches.[1][2][3][5] The procedure offers safety similar to injections but with 5-year durability, Medicare national coverage, and quick return to daily activities within 24 hours; the company demonstrated explosive growth, ranking #384 on Deloitte's 2022 Technology Fast 500 (348% revenue growth 2018-2021) and #370 in 2023 (343% growth 2019-2022), before its acquisition by Stryker in August 2024.[1][3][5]
Founded in 2005 in Aliso Viejo, California, Vertos Medical (formerly X-Sten) emerged to address unmet needs in LSS treatment, starting with minimally invasive devices to remove hypertrophic ligamentum flavum—a key root cause of spinal canal narrowing.[1][2][9] Under leadership like President & CEO Eric Wichems, the company gained early traction with its flagship mild® platform, securing $26 million in Series C funding in June 2022 led by Norwest Venture Partners to fuel commercial expansion.[2][5] Pivotal moments included raising $172 million total, performing the procedure on over 55,000 patients by 2022, and achieving Deloitte Fast 500 recognition amid rising LSS demand, culminating in its 2024 acquisition by Stryker to integrate into their Interventional Spine business.[1][3][5]
Vertos rides the wave of minimally invasive spine interventions, addressing LSS—affecting millions amid aging populations and nursing shortages—by shifting from conservative care or high-risk surgeries to quick outpatient solutions.[1][2][3] Timing aligns with medtech innovation in interventional pain management, where demand surged post-pandemic; Stryker's 2024 acquisition bolsters its ecosystem by integrating into a major player's Interventional Spine division, enhancing neuromodulation and lower back pain portfolios.[1] This influences broader trends like value-based care, reducing hospital burdens and enabling faster patient mobility, while competing against injections by treating root causes.[2]
Post-acquisition by Stryker, Vertos' mild® technology will likely expand globally within a larger spine portfolio, accelerating adoption amid rising LSS prevalence and medtech consolidation.[1] Trends like AI-guided procedures and outpatient shifts will shape its path, potentially evolving influence through scaled training and data-driven outcomes. As minimally invasive spine care dominates, Vertos exemplifies how targeted innovation restores mobility for LSS patients, now amplified by Stryker's reach.[1][5]
Vertos Medical has raised $109.7M across 7 funding rounds. Most recently, it raised $26.0M Series C in June 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2023 | $26.0M Series C | Aphelion Capital, Norwest Venture Partners | |
| Jun 1, 2017 | $28.0M Venture Round | Pitango Venture Capital | |
| Jun 1, 2013 | $23.0M Series E | Pitango Venture Capital | |
| Oct 1, 2009 | $16.0M Series D | Mercury Fund | |
| Jul 1, 2008 | $12.0M Series C | Mercury Fund | |
| Feb 1, 2007 | $4.0M Series B | Mercury Fund | |
| Apr 1, 2006 | $730K Series A | Mercury Fund |