VertiFlex®, Inc. Announces Sale of Certain Non-Core Spinal Implant Technologies to Stryker

  VertiFlex®, Inc. Announces Sale of Certain Non-Core Spinal Implant
  Technologies to Stryker

Business Wire

SAN CLEMENTE, Calif. -- March 13, 2013

VertiFlex®, Inc., a leading innovator of advanced minimally invasive spinal
surgery technologies, today announced the sale of certain assets to Stryker
Corporation’s Spine Division relating to spinal implants that are not core to
the ongoing strategic operations of the company. The scale and scope of the
deal are not disclosed, however, the transaction provides VertiFlex with
significant non-dilutive funding to further advance its platform for minimally
invasive treatment of spinal stenosis.

“The sale of these innovative assets to Stryker represents the beginning of a
new era in our relationships with strategic partners,” said Earl R. Fender,
President and Chief Executive Officer of VertiFlex, Inc. “The agreement with
Stryker includes up-front cash, contingent payments as well as a long-term
licensing agreement. I’m very proud of the VertiFlex team. In addition to
enrolling the largest ever FDA PMA trial of a device for spinal stenosis,
we’ve also demonstrated proficiency in developing differentiated products for
spinal therapies. The assets sold to Stryker are representative of such
innovation.”

About VertiFlex®, Inc.

VertiFlex® is a privately held medical device company dedicated to the
advancement of minimally invasive solutions for the treatment of lumbar spinal
stenosis, which is the leading cause of spinal surgery in the elderly. Founded
in 2005 and headquartered in San Clemente, CA, VertiFlex® has developed a
proprietary, minimally invasive interspinous access platform for performing
both indirect and direct decompressions of the lumbar spine. These
technologies fill the MIS procedural gap in the stenosis treatment continuum
between conservative care and traditional spine surgery. This provides new
options for interventional spine physicians and less invasive options for
traditional spine surgeons to treat patients who would otherwise undergo more
invasive surgery. To date, VertiFlex® has compiled the largest, most rigorous,
body of device clinical evidence, related to lumbar spinal stenosis.

Contact:

VertiFlex®, Inc.
Scott Lynch, 949-940-1400
info@vertiflexspine.com
www.vertiflexspine.com