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Acquisition will Accelerate Global Expansion of Company’s Breakthrough Edison® Histotripsy Platform and Non-Invasive Tumor Therapy

, the developer of the Edison® Histotripsy System and novel histotripsy therapy platform, today announced a management-led majority stake acquisition by a syndicate of globally recognized private and public investors, including K5 Global, Bezos Expeditions, Wellington Management and other new and existing investors. The transaction values HistoSonics at approximately $2.25 billion and positions the company for accelerated growth of the Edison System across new clinical indications and global markets.

HistoSonics will continue to be led by President and Chief Executive Officer, Mike Blue, and his executive team. Mr. Blue will also assume the role of Chairman of the Board upon closing.

“Our relentless focus as a company has been speed, scale, and the urgency to offer patients a better option than any they have today,” said Mr. Blue. “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.”

HistoSonics plans to expand beyond its initial focus on liver tumors to kidney, pancreas, and prostate indications, with a long-term vision of histotripsy being used across a wide range of clinical applications throughout the body, treating both benign and malignant conditions.

“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,” said Bryan Baum, Co-Founder and Managing Partner, K5 Global. “Hospitals are continuing to order systems, patient demand is surging, and the clinical results speak for themselves. We partnered with HistoSonics because this is one of those rare moments where the science, the execution, and the opportunity all align, and we are here to ensure it reaches every hospital in the world.”

HistoSonics, founded in 2009, received FDA De Novo clearance in October 2023 and uses non-invasive focused ultrasound energy to mechanically destroy and liquify targeted tissue and tumors at a sub-cellular level and without the invasiveness or toxicity of traditional procedures.

To date, over 2,000 patients have been treated by the Edison system at over 50 leading U.S. medical centers, with another 50 planned system installations by year-end. Supported by extensive preclinical and clinical research across multiple organ systems, including liver, kidney, pancreas, prostate and others, the company is currently enrolling patients in clinical trials for liver tumors, kidney tumors (HOPE4KIDNEY Trial NCT05820087) and pancreas tumors (GANNON Trial NCT06282809), with plans to start others in the near future.

Additional participants in the transaction include top‑tier global investment firms, including Alpha JWC Ventures, alongside existing investors Alpha Wave Ventures, Venture Investors Health Fund, Lumira Ventures, Hatteras Venture Partners, Early Stage Partners, Amzak Health, HealthQuest Capital, Yonjin Venture, the State of Wisconsin Investment Board, the State of Michigan Retirement System, Johnson & Johnson through its corporate venture capital organization, Johnson & Johnson - JJDC, Inc. (JJDC), and others.

Citi served as financial advisor and Fox Rothschild served as legal advisor to HistoSonics. Morgan Stanley & Co. LLC served as financial advisor and Cooley, with assistance from Orrick, served as legal advisors to the investment syndicate. Wilson Sonsini Goodrich & Rosati served as legal advisor to Histosonics’ existing major shareholders.

HistoSonics is a privately held medical device company developing a non-invasive platform and proprietary sonic beam therapy utilizing the science of histotripsy, a novel mechanism of action that uses focused ultrasound to mechanically destroy and liquify unwanted tissue and tumors. The company is currently focused on commercializing their Edison System in the US and select global markets for liver treatment while expanding histotripsy applications into other organs like kidney, pancreas, prostate, and others. HistoSonics has offices in Ann Arbor, MI and Minneapolis, MN. For more information on the Edison Histotripsy System please visit: 

. For patient-related information please visit: 

Medical Device

HistoSonics Announces $2.25B Acquisition by Consortium of Top-Tier Investors

2025

Healthcare IT

Garheng Kong named top healthcare investors of 2025 by GrowthCap

Financing strengthens OrganOx to expand its leadership position in organ technology

Oxford, England and Madison, New Jersey, February 24, 2025 - 

OrganOx Ltd., a leading organ medical technology company, successfully completed a $142 million primary and secondary equity financing to accelerate growth opportunities for its metra® platform technology in the large and high growth organ technology global market. The oversubscribed round was led by new investor HealthQuest Capital with support from existing OrganOx investors BGF and Lauxera Capital Partners, along with additional new investors Sofina, Soleus Capital, and Avidity Partners. Existing OrganOx investors include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures.

Approved in the U.S., Europe, Canada, and Australia, the OrganOx metra® is a normothermic machine perfusion (NMP) platform technology that has been utilized in over 5,000 liver transplants to date. It keeps donor livers in a metabolically active state outside the body, providing transplant teams the opportunity for functional assessment of the organ prior to transplant and leads to an increased number of organs available for transplant. The company also has an investigational metra® technology for kidney transplants which is expected to soon begin U.S. clinical trials. Further, in partnership with eGenesis, Inc., OrganOx expects to begin a first-in-human clinical study of the use of its metra® technology combined with eGenesis’ genetically engineered porcine livers to support patients with acute-on-chronic liver failure.

“Organ disease and failure represent a large unmet need in healthcare, and we are excited to partner with HealthQuest Capital and the outstanding investor syndicate to work together to improve patient care and outcomes,” said Oern R. Stuge, MD, MBA, and Executive Chairman at OrganOx.

“We’re thrilled to back OrganOx as they advance a technology platform that successfully addresses the quadruple aim of healthcare, benefitting patients, healthcare providers, and global societal health, in a manner that is cost-neutral to the standard of care,” said Garheng Kong, MD, PHD, and Founder/Managing Partner at HealthQuest Capital.

“OrganOx’s financial profile is unparalleled, and partnering with leading investors in this transaction – new and existing – further strengthens us to support the success of our current customers, to expand our customer base, and to enter new markets,” said Steve Deitsch, Chief Financial Officer at OrganOx.

“BGF is proud of our investment in OrganOx and its tremendous performance since our first investment in 2019, and we are pleased to invest in the company again, together with the impressive group of assembled investors,” said Tim Rea, Co-Head of Early Stage at BGF.

“It has been a privilege putting this distinctive syndicate of healthcare specialist investors together,” said Samuel Levy, Founding Partner, Lauxera Capital Partners. “We have the technology, team, and financial firepower to drive the company’s next chapter.”

Piper Sandler acted as exclusive financial advisor and Latham & Watkins acted as legal counsel to OrganOx in this transaction.

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HistoSonics Announces $2.25B Acquisition by Consortium of Top-Tier Investors

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