Johnson & Johnson’s NeuWave is getting a second chance after the company said it
would discontinue the business last year
.
The New Brunswick, NJ-based company
has sold NeuWave,
a company that utilizes microwave ablation technology to provide a physician-friendly workflow during percutaneous ablations, to Quantum Surgical for an undisclosed amount.
Johnson & Johnson’s Ethicon
acquired NeuWave about a decade ago
for an undisclosed sum. NeuWave’s ablation technology was originally developed by physicians and microwave scientists from the University of Wisconsin to maximize energy delivery to tissue and minimize invasiveness.
Both Quantum and NeuWave will operate as subsidiaries of Precision IO Group, a newly created parent company. Precision IO Group will be led by medtech veteran Kurt Azarbarzin, who was recently appointed CEO.
He also served as CEO of EndoQuest Robotics and Verb Surgical, a robotic joint venture between Johnson & Johnson and Verily. Johnson & Johnson
bought out Verily’s remaining stake in Verb in 2019
.
Precision IO Group said its mission is to break down geographical barriers by enabling remote interventions. The new remote interventions project aims to expand access to robotic-assisted percutaneous procedures by leveraging world-renowned experts for remote trajectory planning and results assessment, using Epione tools.
Quantum developed the Epione platform, which is CE-marked for abdominal, chest, and musculoskeletal structures indications, and FDA-cleared for abdominal ablation.
In a release, Azarbarzin said, “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.”