Stryker (NYSE: SYK) signed a definitive agreement to acquire Amplitude Vascular Systems, a privately held medical technology company developing intravascular lithotripsy technology for treating calcified peripheral arterial disease.

The acquisition will add revascularization technology to Stryker's Peripheral Vascular portfolio. Amplitude Vascular Systems' technology uses pulsed CO₂-generated pressure waves delivered through an IVL balloon catheter to fracture calcium deposits in arteries.

"This acquisition represents an important step in advancing our vision to build a comprehensive peripheral vascular platform and address significant unmet clinical needs," said Kevin Lobo, Chair and CEO of Stryker.

Amplitude Vascular Systems, based in Boston, was founded in 2017 by Hitinder Gurm, an interventional cardiologist at the University of Michigan, and Robert Chisena. The company is backed by investors including BioStar Capital and Cue Growth Partners.

The platform is designed to enhance catheter deliverability, treatment speed and therapy efficiency. The technology requires regulatory clearance before use in applicable markets.

Intravascular lithotripsy is used to treat calcified peripheral and coronary lesions. The technology has experienced growth as physicians adopt IVL-based calcium modification in complex procedures.

The transaction is subject to customary closing conditions. Both companies will continue operating separately until the transaction closes. Stryker did not disclose financial terms of the acquisition.