Investor Syndicate Takes Majority Stake in HistoSonics, Valuing Company at $2.25 Billion

A consortium of international investors has acquired a majority stake in HistoSonics, a pioneer in noninvasive tumor treatment technology. The management-led deal values the company at approximately $2.25 billion and aims to accelerate the clinical adoption of HistoSonics' innovative Edison histotripsy system.

Investment Details and Company Valuation

The investor syndicate comprises more than a dozen private and public entities, including notable names such as K5 Global, Bezos Expeditions, Wellington Management, and Johnson & Johnson's venture capital arm. This diverse group also includes several of HistoSonics' existing backers from its $102 million Series D round in August 2024.

Mike Blue, President and CEO of HistoSonics, who will retain his position, stated, "This new group of partners backs category-defining companies that transform entire industries. Their support gives us the firepower to accelerate our momentum, expand into new clinical indications, and reach even more patients around the world who urgently need our breakthrough therapy."

Edison System: Pioneering Sonic Tumor Treatment

HistoSonics' flagship product, the Edison histotripsy system, received FDA de novo clearance in 2023 for the noninvasive treatment of liver tumors and metastases. The technology employs sonic beams to create gas bubbles within targeted tissue, effectively liquefying tumors while preserving critical structures such as blood vessels.

Recent clinical trial data has demonstrated the system's efficacy, with 90% of 47 patients showing local tumor control one year after treatment. These patients, suffering from primary hepatocellular carcinoma or metastatic liver cancers, had either previously attempted or were ineligible for standard therapies like surgery, radiation, or ablation.

Clinical Adoption and Future Expansion

To date, over 2,000 patients have received Edison treatments across more than 50 U.S. centers. HistoSonics plans to install an additional 50 devices before the end of the year, significantly expanding its clinical footprint.

Bryan Baum, co-founder and managing partner at K5 Global, expressed enthusiasm for the company's progress: "What stood out with HistoSonics wasn't just the technology, it was the speed and clarity with which the team turned a breakthrough into real clinical traction. Hospitals are continuing to order systems, patient demand is surging, and the clinical results speak for themselves."

Beyond liver cancer, HistoSonics is actively exploring applications for its technology in kidney and pancreatic tumors, with plans to address prostate cancer and benign conditions in the future. This expansion into new clinical indications represents a key focus for the company's growth strategy.