HistoSonics, the Minneapolis- and Ann Arbor-based company behind the Edison Histotripsy System, has been acquired in a $2.25 billion deal led by a group of high-profile investors, including K5 Global, Bezos Expeditions, and Wellington Management, along with a mix of new and returning backers.

The acquisition, which gives the group a majority stake, will support HistoSonics’ plans to expand the reach of its histotripsy platform, a noninvasive therapy that uses focused ultrasound to mechanically destroy targeted tissue, across a broader range of clinical indications and geographies.

Originally focused on liver tumors, HistoSonics is now enrolling patients in kidney and pancreas tumor trials, and has plans to extend the platform into prostate and other applications. The Edison system received FDA De Novo clearance in late 2023 and has been used to treat more than 2,000 patients at over 50 U.S. medical centers. Another 50 installations are expected by the end of the year.
President and CEO Mike Blue will continue to lead the company and is set to take on the additional role of board chairman following the close of the deal.

“Our relentless focus as a company has been speed, scale, and the urgency to offer patients a better option than any they have today,” Blue said in a statement. “This new group of partners backs category-defining companies that transform entire industries.”

Bryan Baum, co-founder and managing partner at K5 Global, cited the company’s pace of clinical adoption as a key reason for the investment. “We partnered with HistoSonics because this is one of those rare moments where the science, the execution, and the opportunity all align,” he said.

Financial advising for the transaction was provided by Citi for HistoSonics and Morgan Stanley for the investor group. Legal representation included Fox Rothschild, Cooley, Orrick, and Wilson Sonsini.

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