Spine surgery-focused medtech Carlsmed files for a $100 million IPO

Carlsmed, which provides custom equipment and AI-enabled software for personalized spine fusion surgery, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.

Carlsmed is focused on becoming the standard of care for spine fusion surgery. Its aprevo Technology Platform consists of AI-enabled software solutions, interbody implants custom designed for each patient's unique pathology and vertebral bone topography, and single-use surgical instruments. The company currently markets the aprevo Technology Platform for lumbar spine fusion surgery.

The Carlsbad, CA-based company was formed in 2018 and booked $32 million in sales for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol CARL. Carlsmed filed confidentially on April 24, 2025. BofA Securities, Goldman Sachs, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.

Original Source - https://www.renaissancecapital.com/IPO-Center/News/111767/Spine-surgery-focused-medtech-Carlsmed-files-for-a-$100-million-IPO