Vertos Medical News Story

Exclusive: Vertos Medical Captures $26M Series C

Source— Axios Published June 7, 2023

In an exclusive interview, Axios reported on Vertos Medical’s recent funding announcement, a $26 million Series C round which the company is hoping will be its final private fundraise before a public market debut.

The round was led by new investor Norwest Venture Partners, while existing investors, including Pitango Venture Capital, also participated.

In the article, Eric Wichems, President and CEO for Vertos, stated, “We are high growth, [and] demonstrated a profitable business in an under-penetrated market.”

Alongside helping expand its sale and commercialization footprint, fresh funds may finance potential M&A, Wichems noted.

The company makes minimally invasive medical devices to guide procedures treating lumbar spinal stenosis (LSS). It’s best known for mild® which is an image-guided outpatient procedure that removes a large root cause of LLS via a small incision. The procedure is nationally covered by Medicare and more than 1,000 physicians in the U.S. are performing it.

“[LSS] is a serious problem, and often people think it is a mechanical problem — but in reality, you just need to release pressure on the spine and don’t have to restructure the whole back,” Norwest Venture Partners general partner Zack Scott told Axios.

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