Stratus Medical, a medical device company developing radiofrequency (RF) ablation technologies for chronic pain, has raised a $10 million in Series B financing to complete development work on new systems and fund a clinical study tied to a basivertebral nerve ablation (BVNA) program.
The round was led by Wasatch Health Partners, a healthcare-focused investment firm, which invested through its Growth Fund. The investor previously supported Stratus Medical with a $25 million convertible debt facility through its Structured Capital platform, extending a relationship that the companies framed as a long-term partnership.
Stratus Medical said the new proceeds will be used to complete development of the Stratus Medical RF Generator and its neurovasis basivertebral nerve ablation technology, expand and defend its patent portfolio, and finance a clinical study. The company emphasized that these technologies are still under development and have not been submitted to, evaluated by, or cleared by the U.S. Food and Drug Administration.
The company is positioning the work as an expansion of its existing product footprint around NIMBUS, its patented RF multitined expandable electrode design, which it says has been gaining market share on the back of workflow and performance claims, including reduced procedure times and the ability to treat large-volume lesions, intended to support sustained pain relief.
The financing arrives amid growing focus on vertebrogenic low back pain, which Stratus Medical described as developing when vertebral endplates in the spine become damaged, often through progressive degeneration. The company cited an estimate that more than five million people in the U.S. suffer from vertebrogenic back pain and noted that current options range from medication and physical therapy to BVNA procedures.
Stratus Medical is headquartered in Magnolia, Texas, and said it has been recognized for revenue growth and innovation by groups including the Deloitte Technology Fast 500, Pepperdine Most Fundable Companies, and The Houston Business Journal.
KEY QUOTES
“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.”
Luke Larsen, Vice President, Wasatch Health Partners
“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.”
Bret Boudousquie, CEO, Stratus Medical
“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.”
Doug Beall, MD, Director of Interventional Radiology, Clinical Radiology of Oklahoma
