Portage, Michigan-based Stryker’s latest strategic move marks its planned entry into the intravascular lithotripsy (IVL) space. IVL remains a hot space, with Johnson & Johnson’s Shockwave Medical leading the way.
Other companies, such as FastWave Medical, Elixir Medical and Vantis Vascular are making waves in IVL, too. Boston Scientific made its IVL move with the acquisition of Bolt Medical last year. Abbott is making its own IVL play, too, advancing its own system.
AVS designed its IVL platform to treat calcified peripheral arterial disease (PAD). It uses pulsed CO₂-generated pressure waves delivered uniformly through an IVL balloon catheter. This process fractures calcium and optimizes luminal gain while enhancing catheter delivery, treatment speed and therapy efficiency.
Waltham, Massachusetts–based AVS received FDA investigational device exemption for its Pulse system in 2024. Last fall, the company shared encouraging clinical results for the IVL platform.
Stryker said it expects the acquisition to strengthen its Peripheral Vascular (PV) portfolio by adding revascularization technology. Once cleared for use in applicable markets, the company anticipates a complementary platform alongside existing PV offerings as it looks to expand its presence in arterial disease treatment. The acquisition comes 14 months after Stryker last bolstered its PV offerings with the acquisition of Inari Medical.
According to Stryker, the deal remains subject to customary closing conditions. Both companies intend to operate as separate entities and proceed with business as usual until the transaction closes.
“This acquisition represents an important step in advancing our vision to build a comprehensive peripheral vascular platform and address significant unmet clinical needs,” said Kevin Lobo, Chair and CEO, Stryker. “Combining this innovation with Stryker’s scale and clinical expertise, we believe we can help expand treatment options for physicians and improve care for patients with calcified peripheral arterial disease.”
