A group of heavyweight investors including K5 Global and Bezos Expeditions — as well as Venture Investors of Wisconsin making its biggest investment ever — have bought a majority stake in HistoSonics, a deal that values the Plymouth, Minnesota-based medtech company at $2.25 billion.
Founded in 2009, HistoSonics is developing ultrasound technology to destroy liver tumors. The company is focused on commercializing its device, the Edison System, which is characterized as a noninvasive therapy to treat the liver. The device has been used to treat more than 2,000 patients at U.S. medical centers and received FDA De Novo clearance in 2023.
Florida-based venture capital firm K5 Global led the investment, which also was joined by Amazon.com Inc. founder Jeff Bezos’ Bezos Expeditions, Wellington Management and other private and public investors. The Wall Street Journal reported that the investment group acquired about two-thirds of HistoSonics in the deal.
The group includes Venture Investors Health Fund. The venture capital firm with locations in Madison, Milwaukee and Ann Arbor, Michigan, was an early investor in HistoSonics. It led the company’s 2009 spin-out from the University of Michigan and also led the startup’s first three rounds of financing. Venture Investors Executive Managing Director Jim Adox is chairman of the HistoSonics board.