Stratus Medical, a company focused on advancing radiofrequency (RF) ablation treatment for chronic pain, announced a $10 million Series B financing. The financing was led by Wasatch Health Partners, a healthcare-focused investment firm pursuing growth equity and lower middle-market buyout strategies. Wasatch Health Partners invested through its Growth Fund and previously provided a $25 million convertible debt facility through its Structured Capital platform.
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The proceeds from the Series B financing will be used to complete development of the Stratus Medical RF Generator and neurovasis basivertebral nerve ablation (BVNA) technology, expand and protect the company’s valuable patent portfolio, and fund a clinical study. These high-potential technologies will allow Stratus Medical to better serve its rapidly growing customer base while leveraging the proven and patented NIMBUS® RF Multitined Expandable Electrode (Nimbus) design.
Vertebrogenic low back pain develops when the vertebral endplates in the spine become damaged, often as a result of progressive degeneration over time. Current treatment options include medications, physical therapy, and basivertebral nerve ablation (BVNA). It is estimated that more than five million people in the United States suffer from vertebrogenic back pain.
The Stratus Medical RF Generator and neurovasis BVNA technologies are under development and have not been submitted, evaluated, or cleared by the FDA.
Luke Larsen, Vice President at Wasatch Health Partners, said, “We are pleased to expand our partnership with Stratus Medical. The company has demonstrated strong execution, consistent revenue growth, and meaningful progress across technology development and clinical initiatives. We believe the management team is well positioned to continue building on this momentum.”
Bret Boudousquie, CEO of Stratus Medical, commented, “We appreciate the long-term relationship with Wasatch Health Partners and their continued belief in our mission to help chronic pain patients by advancing RF technology. Stratus Medical is proud to work with outstanding physicians, hospitals, and ASCs, and we are anxious to deliver additional value with our future RF technologies that this financing enables us to complete.”
Doug Beall, MD, Director of Interventional Radiology, Clinical Radiology of Oklahoma, commented, “I started using Nimbus in 2020 for radiofrequency ablation pain treatments due to its larger ablation zone and ease of use. In 2022, I started providing scientific input on the neurovasis project. In 2024, my colleagues and I published the first scientific article describing the neurovasis BVNA technique utilizing CT reconstruction to assess device placement. This technology builds on the Nimbus multitined design and has the potential to offer faster, easier-to-use RF treatments and cost reductions for hospitals and ASCs.”
