Nevro Acquires SI Joint Fusion Firm Vyrsa

Nevro has acquired Vyrsa Technologies, a company focused on a minimally invasive treatment option for chronic sacroiliac (SI) joint pain.
 
The deal closed on November 30. Nevro paid $40 million at closing and will pay up to $35 million additional cash or stock, tied to achievement of certain development and sales milestones.
 
Vyrsa was established in 2021. The company said it’s the only SI joint company that manufactures and supports a complete portfolio of U.S. Food and Drug Administration (FDA)-cleared, state-of-the-art SI joint fusion devices.
 
Nevro chief medical officer David Caraway, MD said, “Vyrsa’s comprehensive product suite allows physicians to tailor therapy to specific patient needs. Their innovative implants provide optimal stability and enhance the opportunity for the SI joint to fuse, providing relief to patients suffering from chronic SI joint pain.”
 
Vyrsa’s portfolio of SI joint devices allows physician use of the established SI joint fusion Category I CPT codes at all approved sites of service for SI joint fusion surgeries.
 
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 15-30% of people suffering with chronic low back pain associated with the SI joint2.”
 
Nevro said Vyrsa is expected to be accretive in 2024 for both revenue and EBITDA.