H.I.G. BioHealth Partners, the dedicated healthcare investment affiliate of H.I.G. Capital, a leading global private equity investment firm with $19 billion of equity capital under management,* recently announced the sale of NeuWave Medical to Ethicon, a medical device company of the Johnson & Johnson family of companies.
NeuWave is a privately held medical device company that manufactures and markets minimally invasive soft tissue microwave ablation systems.
Their products are currently used by physicians in leading cancer centers throughout North America. Financial terms of the transaction were not disclosed.
Michael Wasserman, Ph.D., an H.I.G. Managing Director and NeuWave board member, said, "Together with NeuWave’s talented management team, we successfully grew the company into a market leader in interventional oncology, developing and commercializing a suite of innovative products with significant benefits to patients, physicians and healthcare providers.
Dr. Wasserman added, "Our investment in NeuWave was highly representative of H.I.G.’s medical device investment strategy and continues to demonstrate our ability to generate outstanding financial returns for our investors."
NeuWave Medical, headquartered in Madison, WI, develops and commercializes innovative, energy-based, soft tissue ablation devices for interventional oncology, surgery and other clinical markets.
The company is currently commercializing their market-leading Certus 140™ ablation system and continuing the pioneering development of novel interventional and surgical tools.