“We are committed to helping our customers restore quality of life to their patients with interventional solutions for chronic pain management,” said Andy Pierce, President of Stryker’s MedSurg and Neurotechnology Group.

The Stryker may break out of a bullish flag formation and attack the 400 level this week.

The Stryker price is above the average price, which could give further confidence for new purchases.

Privately owned Vertos offers a minimally invasive solution for the treatment of chronic low back pain caused by lumbar scoliosis. Millions of people suffer from lumbar scoliosis, a leading cause of pain and disability.

According to the National Institutes of Health, lumbar scoliosis affects about 11% of older adults in the United States and 103 million people worldwide.

Andy Pierce, president of Stryker MedSurg and Neurotechnology Group, said in a statement that the acquisition will strengthen the company’s minimally invasive pain management portfolio with differentiated treatments and expand the reach of its ambulatory surgery centers.

The transaction is subject to customary closing conditions and financial details were not disclosed. Stryker and Vertos Medical will continue to operate as separate entities and will continue to conduct business as usual until the transaction closes.