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

MINNEAPOLIS--(BUSINESS WIRE)--Aug 7, 2025--

HistoSonics, 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.

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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.

About HistoSonics

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: www.histosonics.com. For patient-related information please visit: www.myhistotripsy.com.

Image credit: HistoSonics

HistoSonics Non-Invasive Edison Histotripsy System Image credit: HistoSonics

THE HAGUE, Netherlands (AP) — Myanmar insisted Friday that its deadly military campaign against the Rohingya ethnic minority was a legitimate counter-terrorism operation and did not amount to genocide, as it defended itself at the top United Nations court against an allegation of breaching the genocide convention.

Myanmar launched the campaign in Rakhine state in 2017 after an attack by a Rohingya insurgent group. Security forces were accused of mass rapes, killings and torching thousands of homes as more than 700,000 Rohingya fled into neighboring Bangladesh.

“Myanmar was not obliged to remain idle and allow terrorists to have free reign of northern Rakhine state,” the country’s representative Ko Ko Hlaing told black-robed judges at the International Court of Justice.

African nation Gambia brought a case at the court in 2019 alleging that Myanmar's military actions amount to a breach of the Genocide Convention that was drawn up in the aftermath of World War II and the Holocaust.

Some 1.2 million members of the Rohingya minority are still languishing in chaotic, overcrowded camps in Bangladesh, where armed groups recruit children and girls as young as 12 are forced into prostitution. The sudden and severe foreign aid cuts imposed last year by U.S. President Donald Trump shuttered thousands of the camps’ schools and have caused children to starve to death.

Buddhist-majority Myanmar has long considered the Rohingya Muslim minority to be “Bengalis” from Bangladesh even though their families have lived in the country for generations. Nearly all have been denied citizenship since 1982.

As hearings opened Monday, Gambian Justice Minister Dawda Jallow said his nation filed the case after the Rohingya “endured decades of appalling persecution, and years of dehumanizing propaganda. This culminated in the savage, genocidal ‘clearance operations’ of 2016 and 2017, which were followed by continued genocidal policies meant to erase their existence in Myanmar.”

Hlaing disputed the evidence Gambia cited in its case, including the findings of an international fact-finding mission set up by the U.N.'s Human Rights Council.

“Myanmar’s position is that the Gambia has failed to meet its burden of proof," he said. "This case will be decided on the basis of proven facts, not unsubstantiated allegations. Emotional anguish and blurry factual pictures are not a substitute for rigorous presentation of facts.”

Nobel Peace Prize winner Aung San Suu Kyi represented her country at jurisdiction hearings in the case in 2019, denying that Myanmar armed forces committed genocide and instead casting the mass exodus of Rohingya people from the country she led as an unfortunate result of a battle with insurgents.

The pro-democracy icon is now in prison after being convicted of what her supporters call trumped-up charges after a military takeover of power.

Myanmar contested the court’s jurisdiction, saying Gambia was not directly involved in the conflict and therefore could not initiate a case. Both countries are signatories to the genocide convention, and in 2022, judges rejected the argument, allowing the case to move forward.

Gambia rejects Myanmar's claims that it was combating terrorism, with Jallow telling judges on Monday that “genocidal intent is the only reasonable inference that can be drawn from Myanmar’s pattern of conduct.”

In late 2024, prosecutors at another Hague-based tribunal, the International Criminal Court, requested an arrest warrant for the head of Myanmar’s military regime for crimes committed against the country’s Rohingya Muslim minority. Senior Gen. Min Aung Hlaing, who seized power from Suu Kyi in 2021, is accused of crimes against humanity for the persecution of the Rohingya. The request is still pending.

FILE - In this Sept. 7, 2017, file photo, smoke rises from a burned house in Gawdu Zara village, northern Rakhine state, where the vast majority of the country's 1.1 million Rohingya lived, Myanmar. (AP Photo, File)