Company seeks to become a ‘leader in interventional radiology’ with recent acquisition
A company is seeking to become a “leader in interventional radiology” with a recent acquisition.
Montpellier, France-based Quantum Surgical—which specializes in minimally invasive, robotic-assisted cancer care—has reached a deal to acquire NeuWave Medical. Previously held by Johnson & Johnson, the device company manufacturers products used by physicians in over 70% of top cancer centers in the U.S.
Quantum and Miami-based NeuWave will operate as subsidiaries of Precision IO Group, a newly created parent company.
“The group’s ambition is to become a leader in the interventional radiology industry, with a strong focus on precision and remote procedures,” the two said in an announcement.
Quantum Surgical specializes in robotics and AI, developing the Epione platform for treating early stage tumors. The product assists radiologists in performing percutaneous tumor ablations, involving the insertion of needles through the skin to target tumors. NeuWave, meanwhile, offers “market leading” microwave ablation technology that provides a “physician friendly workflow” during percutaneous ablations.
As part of the announcement, Quantum Surgical is appointing medtech veteran Kurt Azarbarzin as CEO of the Precision IO Group. The organization said one of its key areas of focus is “working to break down geographical barriers” by enabling more remote interventions. The project seeks to expand access to robotic-assisted percutaneous procedures by leveraging experts in the field to bolster awareness around its Epione tools.
Azarbarzin and colleagues hope the development of robotic interventions can help more patients access top-tier radiologists and their procedures “without traveling long distances.” This will allow IRs to extend their expertise and collaborate with others across the globe in real-time while performing procedures with precision control.
“Quantum Surgical and NeuWave Medical Inc. are highly complementary and share an incredible vision for the future,” Azarbarzin said in a statement. “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…I am convinced that AI, robotics and enabling remote interventions are game changers for cancer care and interventional radiology,” he added later.
Johnson & Johnson MedTech first announced in September it had identified a buyer of its NeuWave business. J&J had indicated it was going to discontinue the product but the deal means it will remain available, the Society of Interventional Radiology noted last year.
Quantum Surgical said both companies will continue to operate independently to “ensure a smooth and uninterrupted experience for their users.” The acquisition was fueled by an investment from Ally Bridge Group, a global healthcare investment firm.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.