Vertos Medical News Story

Vertos Raises $26 Million to Treat Back Pain

Source— Orange County Business Journal Published June 19, 2023

Vertos Medical Inc. set a goal for major expansion this year. On June 7, the Aliso Viejo-based company raised $26 million for commercialization and more research. The Series C equity funding round, which the company says was oversubscribed, was led by new investor Norwest Venture Partners with participation from existing investors. “We doubled sales last year. There are still unpenetrated markets. The fact that we have a plan to get to profitability…attracted investors,” Eric Wichems, CEO of Vertos Medical told the Business Journal.

In tandem with the financing, Dr. Zack Scott, a general partner at Norwest, joined Vertos’ board of directors. “Vertos directly aligns with our goal of partnering with companies that are focused on making a meaningful impact on patient outcomes and improving the healthcare system for all stakeholders,” Scott said in a statement. “Lumbar spinal stenosis impacts 1 in 5 Americans over the age of 60 and Vertos’ procedure can help restore mobility and greatly improve the quality of life for these patients.”

Vertos’ procedure, known as the mild® Procedure, is an image-guided outpatient procedure that removes a major root cause of lumbar spinal stenosis through an incision smaller than the size of a baby aspirin. It requires no implants, no general anesthesia, no stitches, and no overnight hospital stay. The mild® Procedure received Food and Drug Administration (FDA) clearance in 2006.

The article goes on to share the history of how Vertos Medical was founded by interventional radiologists who designed a procedure to remove lesions from cancer patients and discusses its clinical study efforts to get Medicare coverage. The article also highlights Vertos’ significant growth in recent years and the planned expansion within research and development.

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