Stryker expands vascular portfolio with US$835 M acquisition of Amplitude Vascular Systems

USA—Stryker has completed its acquisition of Amplitude Vascular Systems in a deal valued at up to US$835 million, strengthening the company’s push into the rapidly expanding intravascular lithotripsy (IVL) market.

According to a recent regulatory filing, Stryker paid approximately US$435 million upfront, while the agreement also includes up to US$400 million in future milestone-based payments tied to performance and development targets.

The transaction officially closed last week and will see Amplitude integrated into Stryker’s vascular business within its MedSurg and Neurotechnology division.

The acquisition comes as major medical technology companies intensify efforts to expand their presence in the treatment of peripheral arterial disease (PAD), particularly in patients with severe arterial calcification.

Expanding into the IVL Market

Amplitude Vascular Systems has been developing a next-generation IVL platform designed to treat complex PAD cases by breaking down hardened calcium deposits inside arteries.

Its investigational Pulse IVL system uses carbon dioxide-generated pressure waves delivered through a balloon catheter to fracture calcified plaque and restore blood flow.

The company designed the technology to improve catheter deliverability, enhance treatment efficiency, and support faster procedures.

The device is currently being evaluated in the POWER PAD II pivotal study in the United States, which aims to assess the safety and effectiveness of the technology in patients with calcified peripheral arterial disease.

In a recent company announcement, Stryker Chair and CEO Kevin Lobo described the acquisition as a key milestone in expanding the company’s peripheral vascular portfolio.

He noted that combining Amplitude’s CO₂-generated pressure wave technology with Stryker’s global scale and clinical expertise could help physicians manage more challenging arterial disease cases while improving patient outcomes.

Building a broader peripheral vascular business

The acquisition follows Stryker’s earlier move into the vascular intervention market through its approximately US$4.9 billion purchase of Inari Medical in 2025.

Inari is known for its mechanical thrombectomy systems used to remove blood clots.

Together, the acquisitions signal Stryker’s broader strategy to establish a comprehensive peripheral vascular platform spanning thrombectomy, revascularisation, and calcium modification technologies.

Industry analysts expect the IVL segment to continue growing rapidly as physicians increasingly adopt calcium-modification technologies in complex cardiovascular procedures.

The market has also experienced a wave of consolidation activity over the past two years.

In 2024, Johnson & Johnson acquired Shockwave Medical for approximately US$13.1 billion, giving the healthcare giant a dominant position in the IVL sector.

Earlier this week, Johnson & Johnson announced the launch of a next-generation IVL catheter designed to treat calcified coronary artery disease.

Meanwhile, Abbott and Boston Scientific are also advancing efforts to enter the IVL space as competition intensifies across the cardiovascular device market.