Vertos Medical expand treatments for lower back pain with… | Medexec
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ALISO VIEJO, Calif., (June 7, 2023) — Vertos Medical Inc., a leader in the development of innovative, minimally invasive treatments for lumbar spinal stenosis (LSS), announced today that it has raised $26 million in an oversubscribed Series C equity funding round. The financing was led by new investor Norwest Venture Partners with participation from existing investors including Pitango Venture Capital.

“We are thrilled to have Norwest join our investor group. Their proven track record of driving success in commercial-stage companies makes them an invaluable asset to our team. With their support, we are confident in our ability to accelerate our commercial expansion and achieve our goal of making the mild® Procedure accessible to every patient suffering from LSS in the United States.”
Eric Wichems President & CEO

In addition to expanding patient access to the mild® Procedure, the funding will support research and development efforts aimed at advancing care for patients with chronic low back pain. By investing in these critical areas, Vertos is poised to make a meaningful impact in the lives of patients suffering from LSS and chronic low back pain.

Vertos is experiencing a significant increase in demand for its groundbreaking procedure and more than 70,000 patients have been treated in the United States. The company’s rapid revenue growth of 348% between 2018 and 2021 led Deloitte to rank the company #384 on its prestigious Deloitte Technology Fast 500™ list in November 2022.

Dr. Zack Scott, General Partner at Norwest Venture Partners, will join Vertos’ Board of Directors. Dr. Scott has extensive experience helping successful medical technology companies scale such as Cianna Medical, Coherex Medical, Evidation Health, Providence Medical Technology, Respicardia, Spiration, and Syapse.

“Lumbar spinal stenosis impacts one in five Americans over the age of 60 and Vertos’ procedure can help restore mobility and greatly improve the quality of life for these patients. 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. We look forward to working with the Vertos team as they continue their mission to help patients suffering from chronic low back pain reclaim their quality of life.”
Dr. Scott General Partner
This article was originally published by Vertos Medical and can be viewed here