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Vertos Medical Inc. Completes Series C Financing
Date:7/16/2008

Vertos Medical, Inc., a privately held medical device manufacturer focusing on minimally invasive treatment for Lumbar Spinal Stenosis (LSS), today announced that the company has closed a Series C financing round of $12 million with leading venture capital firms active in medical technology. The lead investors were CHL Medical Partners and Foundation Medical Partners and were joined in the round by previous investors Aweida Venture Partners and DFJ Mercury. In connection with the financing, Myles Greenberg, M.D. of CHL and Andrew Firlik, M.D. of Foundation have joined Vertos' Board of Directors.

San Jose, CA (PRWEB) July 16, 2008 -- Vertos Medical, Inc., a privately held medical device manufacturer focusing on minimally invasive treatment for Lumbar Spinal Stenosis (LSS), today announced that the company has closed a Series C financing round of $12 million with leading venture capital firms active in medical technology. The lead investors were CHL Medical Partners and Foundation Medical Partners and were joined in the round by previous investors Aweida Venture Partners and DFJ Mercury. In connection with the financing, Myles Greenberg, M.D. of CHL and Andrew Firlik, M.D. of Foundation have joined Vertos' Board of Directors.

The proceeds of the recent round will be used to expand the Vertos product portfolio and support the commercial launch of the company's proprietary MILD™ devices. The MILD (Minimally Invasive Lumbar Decompression) procedure, is a simple, percutaneous, fluoroscopically guided treatment for Lumbar Spinal Stenosis (LSS). MILD can be performed under local anesthesia and substantially reduces the tissue damage and removal associated with other minimally invasive or open surgeries. LSS is diagnosed in over 1.5 million Americans each year. Vertos has obtained FDA clearance for sale of the MILD devices in the U.S.

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