Vesper Medical

About Vesper Medical

Vesper Medical, a medical technology company based in Wayne, Pennsylvania, specializes in developing minimally invasive devices for the treatment of deep venous disease. The company was established in 2016 as a spin-out from Intact Vascular by Bruce J. Shook, a seasoned executive in the medical device industry. Shook, who served as President and CEO, brought over 30 years of experience from various ventures in cardiology, neurosurgery, and vascular disease, including co-founding Neuronetics and serving as President of Abiomed. His extensive background in biomedical engineering and business administration shaped the company's focus on addressing unmet needs in vascular treatment.

The company's core business revolves around providing advanced solutions for physicians treating chronic venous insufficiency (CVI), a condition affecting a significant portion of the adult population. Its flagship product is the Vesper DUO Venous Stent System®, a modular portfolio of self-expanding stents designed to address the complex anatomical challenges of the iliofemoral veins. The system includes the DUO-HYBRID™ and DUO-EXTEND™ stents, which are intended to improve blood flow by widening obstructed veins. This portfolio allows clinicians to customize therapy based on the specific location and severity of the disease, a key differentiator in the market. The stents are deployed via a high-accuracy delivery platform, ensuring precise placement. The safety and efficacy of the Vesper DUO system were validated in the VIVID clinical trial, which enrolled 160 patients across the US and Europe and demonstrated high rates of primary patency and freedom from major adverse events.

Vesper Medical operated as a venture-backed company, raising a total of $52.5 million over several funding rounds, with notable investors including New Enterprise Associates, Quaker Partners, Vensana Capital, and Gilde Healthcare. This financial backing facilitated the development and clinical trials of its venous stent system. In a significant milestone, Royal Philips announced its acquisition of Vesper Medical in December 2021, with the deal closing in January 2022 for an upfront payment of EUR 227 million. The acquisition integrated Vesper Medical into Philips' Image-Guided Therapy business, complementing Philips' existing intravascular ultrasound (IVUS) offerings and expanding its portfolio in the vascular therapy space.