Barricaid
Barricaid (Intrinsic Therapeutics) develops the FDA PMA-approved bone-anchored annular closure implant, sealing annular defects during lumbar discectomy to prevent reherniation. The privately held medical device company sells directly to U.S. hospitals and ambulatory surgical centers.
- Company typePrivate
- Founded1999
- HeadquartersWoburn, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Barricaid does
Barricaid (legal entity Intrinsic Therapeutics, Inc.) is a privately held medical device company headquartered in Woburn, Massachusetts, founded in 1999 by Greg Lambrecht. The company developed and commercializes the Barricaid Annular Closure Device (ACD), a bone-anchored implant designed to seal large annular defects created during lumbar discectomy surgery in order to reduce the risk of recurrent disc herniation and the need for reoperation. The technology consists of a bone anchor (a jagged/mesh component that engages vertebral bone) and a polyester flap (woven fabric that seals the defect), and is MR Conditional at 1.5-Tesla and 3-Tesla. The device received FDA Pre-Market Approval in 2019 following a multicenter Level I randomized controlled trial, with five-year follow-up results published in JAMA Network Open.
Barricaid sells primarily through one-time hardware sales of the implant to hospitals and ambulatory surgical centers (ASCs), with pricing determined through facility agreements and payer contracts. A new Category I CPT code (63032), effective January 1, 2026, supplements the existing HCPCS code C9757 (CMS, 2020) and standardizes reimbursement. Coverage extends to Medicare, Cigna, the Veterans Administration (covering roughly 9 million lives), and more than 20 commercial insurers. The company maintains a direct U.S. field sales organization led by VP Sales East and VP Sales West, supported by Territory Managers and Clinical Specialists, and operates a Centers of Excellence program (Platinum and Gold tiers) to recognize high-volume adopters.
The company is led by President and CEO Keith Valentine (appointed April 2025), a spine industry veteran from NuVasive, Medtronic Spine & Biologics, and SeaSpine. The board is chaired by Ryan Drant (Founder and Managing Partner of Questa Capital). The product portfolio includes the core Barricaid Annular Closure Device and the Barricaid Narrow Anchor Device, a 25%-smaller variant announced for March 2026 release. As of October 2025, nearly 13,000 patients had been implanted with Barricaid, supported by clinical evidence across eight distinct patient populations. The company is backed by Questa Capital, New Enterprise Associates, Greenspring Associates, Quadrille Capital, Delos Capital, and CRG, among others, with cumulative disclosed funding exceeding $300 million across multiple rounds.
Barricaid firmographics
Firmographics- Name
- Barricaid
- Legal name
- Intrinsic Therapeutics, Inc.
- Website
- https://barricaid.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Barricaid (Intrinsic Therapeutics) develops the FDA PMA-approved bone-anchored annular closure implant, sealing annular defects during lumbar discectomy to prevent reherniation. The privately held medical device company sells directly to U.S. hospitals and ambulatory surgical centers.
- Ownership category
- akta.pro rank
Barricaid industry classification
Industry- Product category
- Spinal Implants
- NAICS
- Surgical Appliance and Supplies Manufacturing (339113)
- SIC
- Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842), Surgical & Medical Instruments & Apparatus (3841)
- akta.pro primary industry
- Spine Implants & Motion Preservation (Fusion/Disc/Interspinous) (HLAHAEAC)
Keywords
Where Barricaid is headquartered
LocationHeadquarters
- HQ city
- Woburn
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Barricaid business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Supply Chain, Operations
Revenue model
- Medical Device Sales - Barricaid Implant: One-time device sale for each surgical implantation procedure. The Barricaid annular closure device is sold to hospitals and ambulatory surgical centers (ASCs) for use in lumbar discectomy procedures. Revenue is procedure-based with each implant representing a transaction. Pricing is not publicly disclosed and varies based on facility agreements and payer contracts.
- Professional Training Services: Company provides surgeon training, proctoring, and educational programs for adoption of the Barricaid procedure. These programs support the core device sales while building surgeon expertise and network.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels8 records
Barricaid product offering
Product offeringCore offering
Barricaid is a bone-anchored annular closure device (ACD) implanted during lumbar discectomy surgery to seal large annular defects and prevent disc reherniation. The system consists of a jagged/mesh bone anchor that inserts into vertebral bone and a woven polyester flap that closes the defect left after discectomy. It is the only FDA PMA-approved bone-anchored ACD, demonstrated in a Level I RCT (published in JAMA with five-year follow-up) to reduce reoperations for reherniations by 81% in patients with large annular defects.
Product overview
Barricaid is a proprietary annular closure medical device portfolio consisting of the core Barricaid Annular Closure Device (a bone-anchored implant) and its newer variant, the Barricaid Narrow Anchor Device (25% smaller). Both products are designed to reduce reoperations for reherniations in lumbar discectomy patients with large annular defects. The devices are implanted during discectomy surgery and do not require additional incisions.
Differentiator
Problem solved
Functional benefit
Products and services
- Barricaid Annular Closure Device Bone-anchored annular closure implant designed to reduce reherniation and reoperation rates in patients with large annular defects following lumbar discectomy surgery. Sold to hospitals and ambulatory surgical centers (ASCs) for use by spine surgeons.
- Barricaid Narrow Anchor Device A 25% smaller version of the standard Barricaid anchor, designed to facilitate implantation and reduce nerve root retraction during lumbar discectomy procedures. The device has passed standard mechanical tests and follows regulatory and clinical momentum including new CPT coding.
Quantifiable outcome
- 81% reduction in reoperations for reherniations in patients with large annular defects
- +3 more outcomes
Companies that use Barricaid
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
Barricaid technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Barricaid partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- American Medical Association (AMA)coreAMA CPT Editorial Panel created new Category I CPT code 63032 for bone-anchored annular closure, effective January 1, 2026. This milestone enables surgeons to code specifically for Barricaid procedure, increasing patient access.
- International Society for the Advancement of Spine Surgery (ISASS)coreISASS issued 2025 recommendations and coverage criteria for Barricaid bone-anchored annular closure. ISASS policy guidance supports coverage for appropriately selected patient populations.
- Cigna HealthcarecoreCigna Healthcare issued positive coverage policy for Barricaid Bone-Anchored Annular Closure device. Cigna represents one of the five largest commercial payors in the U.S.
- Veterans Administration (VA)majorVA added HCPCS code C9757 (Barricaid Implantation) to their 2021 national outpatient fee schedule. VA covers approximately 9 million lives as the 2nd largest government-funded health insurance organization.
- Centers for Medicare & Medicaid Services (CMS)coreCMS established new HCPCS code C9757 for Barricaid device, included in Medicare hospital outpatient and ASC national fee schedules effective January 1, 2020. Provides standard payment pathway for the technology.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Barricaid competitors and assessment
Company assessmentEmerging players
- Relievant Medsystems (Boston Scientific): Relievant developed the Intracept procedure for vertebrogenic pain and was acquired by Boston Scientific in 2023. It targets the same interventional spine specialist with a procedure-based implant and CPT code strategy analogous to Barricaid's commercial playbook.
Broad incumbents
- Medtronic Spine & Biologics: Medtronic is the largest spine medical device company globally with a broad lumbar portfolio. Barricaid's CEO Keith Valentine previously held VP Marketing roles at Medtronic Spine & Biologics, and Medtronic's BMP/INFUSE franchise competes in the same discectomy and fusion-adjacent surgical workflow.
- NuVasive (now Globus Medical): Globus Medical acquired NuVasive in 2023, creating the largest pure-play spine medical device company. Barricaid's CEO and sales leadership all came from NuVasive, and NuVasive's broader lumbar portfolio overlaps with the discectomy-adjacent workflow Barricaid targets.
- Stryker Spine: Stryker is a diversified medtech incumbent with a large spine and orthopedics division. Barricaid's founder Greg Lambrecht was previously VP at Stryker, and Stryker competes broadly in the same hospital and ASC surgical channels.
Direct peers
- Alphatec Spine (ATEC): ATEC is a pure-play spine company focused on procedurally-integrated solutions for the operating spine surgeon. ATEC sells a portfolio of lateral and minimally invasive lumbar products to the same hospital and ASC customers Barricaid targets, making it a comparable sized direct competitor.
- Spine Wave: Spine Wave is a privately held spine medical device company that sells a portfolio of lumbar and cervical products including discectomy-related solutions. It targets the same spine surgeon customer base with similar procedure-based hardware sales.
- Implanet: Implanet is a European-listed spine medical device company offering lumbar and cervical implant solutions. It serves the same discectomy-adjacent procedural workflow Barricaid targets, though primarily in Europe where Barricaid is not currently sold.
- SI-BONE: SI-BONE is a focused spine medical device company of similar size to Barricaid that sells procedure-based implants (iFuse for sacroiliac joint dysfunction) directly to spine surgeons via a similar field-sales and reimbursement-led model. Barricaid's VP Health Economics April Spillane previously led outpatient divisions at SI-BONE.
- Vertos Medical (Stryker): Vertos Medical developed minimally invasive treatments for lumbar spinal stenosis and was acquired by Stryker in 2024. Vertos competed in the same lumbar interventional space targeting referring spine specialists as Barricaid.
- Orthofix / SeaSpine: Orthofix merged with SeaSpine in 2023 to form a focused spine and biologics company. Both Barricaid's CEO (Keith Valentine, ex-SeaSpine CEO) and its VP Sales East/West came directly from Orthofix/SeaSpine, and the company sells competing lumbar procedural solutions to the same spine surgeons.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Barricaid social profiles
Digital presenceBarricaid compliance and trust
Trust signalCompliance3 records
Barricaid financial estimates
Financial estimateRevenue estimate
Valuation estimate
Barricaid leadership team
Management profileNumber of profiles
Profiles15 records
Barricaid funding detail
Funding detailFunding overview
Funding rounds15 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Barricaid M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Barricaid
What does Barricaid do?
Barricaid is a bone-anchored annular closure device (ACD) implanted during lumbar discectomy surgery to seal large annular defects and prevent disc reherniation. The system consists of a jagged/mesh bone anchor that inserts into vertebral bone and a woven polyester flap that closes the defect left after discectomy. It is the only FDA PMA-approved bone-anchored ACD, demonstrated in a Level I RCT (published in JAMA with five-year follow-up) to reduce reoperations for reherniations by 81% in patients with large annular defects.
Is Barricaid a public or private company?
Barricaid is a private company. It is classified as venture growth investor backed and is currently operating.
When was Barricaid founded?
Barricaid was founded in 1999. It employs 11 to 50 people.
Where is Barricaid based?
Barricaid is headquartered in Woburn, United States, in the North America region.
How does Barricaid make money?
Two revenue lines are on record. Medical Device Sales - Barricaid Implant is the primary driver. The others are professional Training Services.
Who are Barricaid's main competitors?
Relievant Medsystems (Boston Scientific) is listed as an emerging player. Broad incumbents are Medtronic Spine & Biologics, NuVasive (now Globus Medical) and Stryker Spine. Direct peers are Alphatec Spine (ATEC), Spine Wave, Implanet, SI-BONE, Vertos Medical (Stryker) and Orthofix / SeaSpine.
Does Barricaid have an API?
No public API is recorded for Barricaid.
What industry is Barricaid in?
Barricaid's product category is Spinal Implants. Its primary akta.pro industry code is HLAHAEAC, Spine Implants & Motion Preservation (Fusion/Disc/Interspinous). Its NAICS code is 339113 and its SIC code is 3842.