Stryker acquires U-M arterial disease treatment startup for $835 million

University of Michigan (U-M) startup Amplitude Vascular Systems (AVS) was recently sold to Portage-based medical tech company Stryker for $835 million, allowing Stryker to take full advantage of AVS’ technology for treating arterial disease.

AVS’ Pulse Intravascular Lithotripsy (IVL) system takes aim at calcium buildup within blood vessels. A common problem with cardiovascular disease is that calcium in the blood can harden over time into patches that restrict blood flow like a garden hose filling with mud, increasing blood pressure and worsening heart disease. 

According to U-M, the AVS invention utilizes “hydraulic pulse waves delivered through a balloon catheter to break apart calcium buildups within arteries.” The balloon then goes through the arteries to ensure the calcium gets flushed out and doesn’t rebuild. 

“When arteries become hardened by calcium, it can make treatment more challenging and limit how well we’re able to restore blood flow,” said Hitinder Gurm, who co-founded AVS and is now U-M’s chief medical officer, in a press release on the acquisition. “What’s promising about Pulse IVL is that it’s designed to break up calcium in a way that helps the artery open more effectively and potentially improve outcomes for patients with complex disease. Moving this technology toward broader global adoption through Stryker’s worldwide reach would not have been possible without the remarkable resources offered at the University of Michigan.”

“This acquisition is a significant milestone in expanding our peripheral vascular portfolio and enhancing our ability to address challenging arterial disease,” Stryker Chair and CEO Kevin Lobo said in the release. “By integrating AVS’s innovative CO₂-generated pressure wave technology with Stryker’s scale and resources, we are well-positioned to deliver solutions that support physicians and patient outcomes.”

Prior to the Stryker acquisition, AVS received funding from the Michigan Economic Development Corporation, Kickstart, the Michigan Transitional Research and Commercialization Life Sciences Innovation Hub, and the Michigan Biomedical Venture Fund. AVS was co-developed in Ann Arbor, but is now based in Boston. The Stryker acquisition will not bring any AVS jobs to Michigan, according to a Stryker spokesperson.