By Meghana Keshavan
Southern California devicemaker Vertos Medical has been around a decade, and has a clinically validated treatment for lumbar spinal stenosis. It’s raised many dollars in venture financing, and is in the midst of a new equity round. This begs the question – when will Vertos IPO?
Vertos is aiming to raise $12 million, according to a regulatory filing, and has raised about half of that so far from 21 investors. The company has developed a treatment to allay symptoms of lumbar spinal stenosis, with a simple outpatient procedure that it’s commercializing in the U.S. and Europe.
The company’s well-financed – it closed out a $23 million Series E in 2013, and has been around and raising funds since 2005.