HistoSonics, Inc., a Michigan-based medical technology company specializing in non-invasive tumor therapy, has been acquired in a $2.25 billion deal, solidifying its position as a unicorn and highlighting the state’s growing life sciences sector.
The acquisition, backed by investors including K5 Global and Bezos Expeditions, will accelerate the international rollout of the company’s Edison system, expanding its use beyond liver cancer to applications in the kidney, pancreas, and prostate.
HistoSonics’ core technology, known as histotripsy, was developed at the University of Michigan over two decades ago. It uses focused ultrasound waves to destroy targeted tissue without incisions, needles, or radiation. To date, it has been used in the treatment of more than 2,000 patients with liver tumors.
HistoSonics President and CEO Mike Blue credited early backers for supporting the long development cycle. “I want to congratulate and thank our existing investors, many who were the very first to believe and invest in our dream and who are continuing to support us through this acquisition,” Blue said, adding that the new partnership provides the resources needed to scale globally.
The Michigan Economic Development Corporation (MEDC), which supported the company during its growth, emphasized the long-term value of patient capital. “Ecosystem investment matters, and returns take time; this is what long-term deep tech success looks like,” said Ben Marchionna, MEDC’s chief innovation ecosystem officer. “This Michigan-built technology is already helping patients who had no other options, and will continue to redefine treatment.”
The transaction underscores Michigan’s strategy of investing in high-impact sectors such as life sciences, with HistoSonics now positioned as one of the state’s most prominent examples of research-driven innovation reaching global scale.
