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Vertos Medical Secures $26 Million To Expand Commercialization Efforts And Develop Breakthrough Treatments For Chronic Low Back Pain

Jun 07, 2023about 2 years ago

Amount Raised

$26 Million

Aliso ViejoMedical DeviceMedicalBiotechnologyHealth Care

Investors

Pitango Venture CapitalNorwest Venture Partners

Description

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.

Company Information

Company

VERTOS MEDICAL INC

Location

95 ENTERPRISE, SUITE 325

Aliso Viejo, California, United States

About

Vertos Medical is an interventional pain company committed to developing innovative, minimally invasive treatments for lumbar spinal stenosis (LSS). mild®, its proprietary technology, is an image-guided outpatient procedure that removes a major root cause of lumbar spinal stenosis (LSS) through an incision smaller than the size of baby aspirin and doesn't require implants, general anesthesia, or stitches. The mild® Procedure has been clinically demonstrated to have safety outcomes similar to injections with durability out to 5 years, and patients typically return to activities of daily living within 24 hours with no restrictions. mild® is nationally covered by Medicare. In November 2022, Vertos Medical joined an elite group by ranking 384 on the Deloitte Technology Fast 500™, a ranking of the most innovative, fastest-growing public and private companies from North America. This recognition highlights Vertos Medical's exceptional growth and relentless pursuit of improving the quality of patients' lives. Vertos Medical headquarters is located in Aliso Viejo, CA. To learn more and view clinical data, visit www.Vertosmed.com.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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