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Medical device company HistoSonics closed $250 million in funding led by its new ownership group, which includes the VC fund Thiel Bio.

Why it matters: Now valued at $3 billion, the company could be primed for a near-term IPO. 

Follow the money: Founders Fund also invested alongside existing backers K5 Global, Bezos Expeditions and Wellington Management. 

Catch up quick: HistoSonics completed a majority stake sale in August, valuing it at $2.25 billion.

While investors mostly cashed out during the transaction, they retained some equity, Axios Pro previously reported. 

How it works: HistoSonics has developed a noninvasive therapy that uses focused ultrasound waves to target tumors in the liver.

It's testing the therapy on tumors impacting the kidneys and pancreas in clinical trials.

Founded in 2009, the company received FDA de novo approval for its first product in October 2023.

Zoom in: The company, which is not yet profitable, expects to generate more than $100 million in revenue this year, CEO Mike Blue tells Bloomberg.

The funding will support the ongoing commercial expansion of HistoSonics' Edison System, help it expand into new treatment areas, and strengthen operational capacity, the company says. 

Following the transaction, all preferred stock was converted to common stock, Blue tells Axios Pro. 

Flashback: HistoSonics was weighing an IPO early this year, but pivoted to a sale, fielding half a dozen strategic inquiries —  including bids from Medtronic, GE HealthCare and Johnson & Johnson.  

Yes, but: Blue told Axios Pro in August that the pricing HistoSonics would receive from a strategic didn't match leadership and investor valuation expectations.

Editor's note: This story has been updated with a comment from HistoSonics CEO. 

HistoSonics raises $250M led by new owners

Illustration of a gold caduceus casting a dollar sign shadow

Medical device company <a class="gtmContentClick" data-vars-link-text="HistoSonics" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2025/08/07/histosonics-majority-stake-bezos-k5-wellington" data-vars-content-id="93d584d9-62ae-4150-9b61-ff6a934b2e30" data-vars-headline="HistoSonics raises $250M led by new owners" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2025/08/07/histosonics-majority-stake-bezos-k5-wellington" target="_self">HistoSonics</a> closed $250 million in funding led by its new ownership group, which includes the VC fund Thiel Bio.Why it matters: Now valued at $3 billion, the company could be primed for a near-term IPO.

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HistoSonics raises $250M led by new owners

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