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Nevro acquired Vyrsa Technologies, developer of a minimally invasive treatment option for patients suffering from chronic sacroiliac (SI) joint pain.
Nevro paid $40 million at closing and will pay up to an additional $35 million in cash or stock tied to achievement of certain development and sales milestones.
Vyrsa manufactures and supports a complete portfolio of FDA-cleared sacroiliac joint fusion devices. Its VYRSA V1 SI Fusion System was introduced at the close of 2022. The Vyrsa portfolio of SI joint devices allows physician utilization of the established SI joint fusion Category I CPT codes at all approved sites of service for SI joint fusion procedures.
Nevro CEO Kevin Thornal commented, “The acquisition of Vyrsa leverages Nevro’s ability to drive long-term shareholder value by accelerating our key strategic initiatives of commercial execution, market penetration, and profit progress. Vyrsa offers differentiated implants to our current call point of physicians that will help drive growth. We are ecstatic to be able to bring long-term pain relief to the 15% to 30% of people suffering with chronic low back pain associated with the SI joint.”
Source: Nevro
