HistoSonics acquired in $2.25B deal backed by Bezos Expeditions, K5 Global, and others 

HistoSonics, the company behind the Edison® Histotripsy System, has announced its acquisition in a management-led deal backed by a consortium of public and private investors. The $2.25 billion transaction, led by firms such as K5 Global, Bezos Expeditions, and Wellington Management, marks a major inflection point for the company as it looks to scale its technology across new indications and international markets. 

The deal will see the current leadership team, including President and CEO Mike Blue, continue at the helm. Blue will also assume the role of Chairman of the Board following the transaction’s close. 

• “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 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.” 

From Liver Tumors to Multi-Organ Applications 

HistoSonics’ histotripsy technology—cleared by the FDA in October 2023—uses focused ultrasound energy to destroy targeted tissue mechanically, without incisions or thermal damage. The Edison System has been used to treat over 2,000 patients across 50 leading U.S. medical centers, with plans to install another 50 systems by the end of the year. 

While its initial regulatory approval focused on liver tumors, the company is already running trials for kidney (HOPE4KIDNEY Trial NCT05820087) and pancreatic cancers (GANNON Trial NCT06282809), with prostate and other indications on the horizon. Long-term, HistoSonics envisions histotripsy being applied across a wide range of both malignant and benign conditions. 

For Bryan Baum, Co-Founder and Managing Partner at K5 Global, the decision to invest was clear. 

“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 Baum. “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.” 

A Broad Coalition of Backers 

The acquisition brings together a diverse group of investors including Alpha JWC Ventures, Alpha Wave Ventures, Venture Investors Health Fund, Lumira Ventures, Hatteras Venture Partners, Early Stage Partners, and Amzak Health, among others. It also includes support from institutional stakeholders such as the State of Wisconsin Investment Board and the State of Michigan Retirement System, as well as strategic investor Johnson & Johnson through JJDC, Inc. 

Citi served as financial advisor to HistoSonics, with legal counsel provided by Fox Rothschild. Morgan Stanley & Co. LLC advised the investor syndicate, which was represented legally by Cooley and Orrick. Wilson Sonsini Goodrich & Rosati advised the company’s existing major shareholders. 

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