Quantum Surgical, a company specializing in minimally invasive robotic-assisted cancer treatment, has announced the acquisition of NeuWave Medical, a medical device company whose products are used by physicians in over 70% of the top cancer centers in the United States. The transaction advances Quantum Surgical’s strategy to democratize robotic-assisted tumor ablation treatments and reduce cancer mortality.
Both Quantum Surgical and NeuWave Medical will operate as subsidiaries of Precision IO Group Inc., a newly created parent company led by medtech veteran Kurt Azarbarzin, who has been appointed CEO. The group aims to become a leader in interventional radiology, with a focus on precision and remote procedures.
Quantum Surgical develops robotics and artificial intelligence technologies and is the creator of the Epione robotic platform for treating early-stage tumors. Epione assists physicians in performing percutaneous tumor ablations, in which one or more needles are inserted through the skin to treat tumors.
NeuWave Medical provides market-leading, clinically proven microwave ablation technology designed to deliver a physician-friendly workflow during percutaneous ablations. Its technology is used in 70% of the top cancer centers in the United States.
The combined group is focused on expanding access to cancer care through remote interventions. Precision IO Group is developing capabilities to enable remote trajectory planning and results assessment using Epione tools, allowing world-renowned experts to support robotic-assisted percutaneous procedures regardless of location. The initiative is intended to increase access to minimally invasive care, enable real-time collaboration among physicians globally, and extend specialist expertise to underserved geographies.
Kurt Azarbarzin brings decades of experience in minimally invasive surgery and medical robotics. He previously founded and led SurgiQuest, Inc., and served as CEO of EndoQuest Robotics and Verb Surgical, a robotic joint venture between Johnson & Johnson and Google. Most recently, he was a partner at Frazier Healthcare Partners, advising high-growth healthcare companies.
Despite the integration, both companies will continue to operate independently to ensure business continuity. The Epione robotic system will remain an open-architecture platform compatible with common CT imaging and tumor ablation modalities. NeuWave’s microwave ablation technology will continue to be available as a standalone solution or in combination with other therapies. Physicians’ workflows and clinical practices will remain unchanged.
Epione is CE marked for abdominal, chest, and musculoskeletal indications and is FDA cleared for abdominal ablation. More than 1,400 patients have been treated with the system in Europe and the United States to date.
The acquisition and combined growth are supported by investment from Ally Bridge Group, the largest investor in Precision IO Group. Stifel acted as exclusive financial advisor to Quantum Surgical, and McDermott Will & Schulte LLP served as legal advisor.
KEY QUOTES
“At Quantum Surgical, we are committed to democratizing procedural know-how through robotics, and expanding high-quality cancer care for patients. Acquiring NeuWave Medical, Inc. is a natural and strategic step in that mission Innovation is our north star and we are thrilled to join forces with a passionate team of experts to drive innovation even further and shape the future of interventional oncology. Quantum Surgical is expanding fast and will grow even faster with the acquisition of NeuWave Medical, Inc.. We are excited to count on Kurt’s experience and leadership to take us to the next phase for our company.”
Bertin Nahum, President And Co-Founder Of Quantum Surgical
“We’re proud to join the Quantum Surgical team and continue supporting physicians in their mission to treat cancer patients. We look forward to combining our capabilities with Quantum Surgical to drive innovation and help transform the future of cancer care.”
Leah Kissling, President Of NeuWave Medical
“I am excited and honored to join Precision IO Group Inc. as CEO. Quantum Surgical and NeuWave Medical, Inc. are highly complementary and share an incredible vision for the future. I have met both teams and am impressed by the pride and passion they bring to their work to improve patient care. I believe that their technologies, both independently and combined, have the potential to position us as leaders of the industry, and to transform cancer care on a global scale. Drawing on my 40 years of experience in minimally invasive surgery, I am convinced that AI, robotics and enabling remote interventions are game-changers for cancer care and interventional radiology.”
Kurt Azarbarzin, CEO Of Precision IO Group Inc.
