NeuWave Medical

What NeuWave Medical does

NeuWave Medical, Inc. is a Madison, Wisconsin-based medical device company that pioneered microwave ablation technology for the minimally invasive treatment of soft tissue lesions, including partial or complete ablation of non-resectable liver tumors in percutaneous, open surgical, and laparoscopic settings. The company's core product, the NeuWave Microwave Ablation System, is built around a CO2-cooled platform featuring the Tissu-Loc probe-anchoring technology, the ABLATE-IQ visualization and registration software for fused pre- and post-ablation scan comparison and margin confirmation, and a comprehensive probe portfolio spanning eight variants (PR, PRS15, PR XT, SR, LN, LK XT, LK, PRS35), including the longest commercial ablation probe at 35cm. The proprietary platform is protected by multiple granted US patents covering probe designs and the ABLATE-IQ software.

The company sells capital equipment and consumable probes primarily through direct enterprise field sales to hospitals and specialized cancer treatment centers, supported by clinical education resources, in-service video libraries, and live case help during procedures. Pricing is quote-based under multi-year capital contracts with pay-as-you-go consumable probe pricing; no public list pricing exists. The company is reported to be used in 70% of top US cancer centers and has served more than 100,000 patients worldwide. As of March 2026, NeuWave Medical operates as a wholly owned subsidiary of Quantum Surgical under the newly created Precision IO Group Inc., following its acquisition from Johnson & Johnson's Ethicon division. The new parent is led by CEO Kurt Azarbarzin with investment backing from Ally Bridge Group.

Name

NeuWave Medical

Legal name

NeuWave Medical, Inc.

Website

https://neuwave.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

NeuWave Medical develops and markets the NeuWave Microwave Ablation System, a CO2-cooled platform with proprietary probes and visualization software for minimally invasive soft tissue ablation in hospitals and cancer centers, and is a subsidiary of Quantum Surgical under Precision IO Group Inc.

Ownership category

akta.pro rank

Product category

Microwave Ablation Medical Devices

NAICS

Surgical Appliance and Supplies Manufacturing (339113)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Interventional Radiology & Image-Guided Therapy Systems (HLAHABAG)

akta.pro secondary industry

Radiology AI, CAD & Advanced Visualization Software (HLAHABAJ)

Keywords

• Microwave ablation systems
• Medical device manufacturing
• Interventional oncology devices
• Soft tissue ablation
• Liver tumor ablation

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Marketing or Sales, Operations

Revenue model

1. Microwave Ablation Systems and Probes: Sale of medical device hardware including the NeuWave Microwave Ablation System and comprehensive probe portfolio (PR, PRS15, PR XT, SR, LN, LK XT, LK, PRS35 probes). Revenue generated from equipment sales to healthcare facilities.
2. Service and Support: Technical support, ordering support, and live case support services provided to healthcare professionals. Ordering and service contacts available across multiple international markets.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

NeuWave Medical designs, manufactures, and sells the NeuWave Microwave Ablation System, a CO2-cooled platform indicated for ablation (coagulation) of soft tissue in percutaneous, open surgical, and laparoscopic settings, including partial or complete ablation of non-resectable liver tumors. The company offers a portfolio of ablation probes (PR, PRS15, PR XT, SR, LN, LK XT, LK, PRS35), the ABLATE-IQ margin-confirmation visualization software, and the proprietary Tissu-Loc probe-anchoring technology, supported by live-case physician support and clinical education resources. Revenue is generated primarily through capital equipment and consumable probe sales to hospitals and oncology centers, with additional service and technical support revenue.

Product overview

NeuWave Medical offers a microwave ablation system for soft tissue ablation in percutaneous, open surgical, and laparoscopic settings. The core product is the NeuWave Microwave Ablation System, which uses CO2 cooling technology. The portfolio includes the ABLATE-IQ™ visualization and registration software for ablation confirmation, the Tissu-Loc™ probe anchoring technology, and a comprehensive probe portfolio (PR, SR, LK, LN series and variants) designed for various clinical needs and anatomical targets. The system is used in over 70% of top US cancer centers and has served more than 100,000 patients worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• NeuWave™ Microwave Ablation System: Total solution for ablating lesions with consistency and control for percutaneous, open surgical, and laparoscopic settings.
• ABLATE-IQ™
• Tissu-Loc™

Products and services

• NeuWave Microwave Ablation System Capital equipment system indicated for ablation (coagulation) of soft tissue in percutaneous, open surgical, and laparoscopic settings, including partial or complete ablation of non-resectable liver tumors; uses CO2 cooling and is compatible with the full NeuWave probe portfolio.
• NeuWave Probe Portfolio Consumable ablation probe portfolio including PR, PRS15, PR XT, SR, LN, LK XT, LK, and PRS35 variants, sold as disposable accessories for use with the NeuWave Microwave Ablation System across percutaneous, open, and laparoscopic procedures.

Quantifiable outcome

• Evidence shows margins >5mm are the best predictors of long-term outcomes when using NeuWave's ablation confirmation technology
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Precision IO Group Inc.coreStrategic or Co-development Partner · 1 February 2026NeuWave Medical operates as a subsidiary of Precision IO Group Inc., a newly created parent company formed through the combination of Quantum Surgical and NeuWave Medical. Led by medtech veteran Kurt Azarbarzin as CEO, the group's mission is to democratize robotic-assisted cancer treatment through innovation and remote procedures, breaking down geographical barriers in cancer care.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• AngioDynamics: Direct competitor in the interventional oncology ablation space, offering microwave (Acculis/Solus) and radiofrequency ablation systems used by interventional radiologists for soft tissue tumor ablation in similar hospital and cancer center settings.
• Quantum Surgical: Sister subsidiary under Precision IO Group; develops the Epione robotic-assisted tumor ablation platform. Highly comparable as an interventional oncology ablation peer and now commercially aligned with NeuWave under the same parent.
• HealthTronics: U.S. provider of interventional oncology services and equipment, including cryoablation and other ablation technologies sold and serviced to hospitals and urology/oncology practices similar to NeuWave's customer base.

Broad incumbents

• Medtronic: Broad incumbent in interventional oncology with the Emprint and Emprint HP microwave ablation systems, plus resection and embolization tools. Competes with NeuWave in the same hospital channels for tumor ablation procedures.
• Boston Scientific: Major interventional oncology player following its acquisition of BTG (which included the Covidien/EV NeuWave-era competing ablation assets) and other oncology franchises; competes across multiple ablation and embolization modalities.
• Terumo: Interventional oncology player with ablation and embolization products marketed globally; overlaps with NeuWave's customer base in hospitals and competes for share of soft tissue ablation procedures.

Others

• Johnson & Johnson (Ethicon): Former parent of NeuWave via its Ethicon division; still a major surgical and oncology medtech incumbent that divested NeuWave in March 2026 and competes in adjacent surgical oncology categories.

Emerging players

• Penumbra: Emerging interventional oncology player expanding from its neurovascular core into peripheral and tumor embolization/ablation, addressing overlapping hospital and interventional radiology customers.
• Sirtex Medical: Specialty interventional oncology company focused on SIR-Spheres radioembolization for liver tumors; competes with NeuWave for the same liver tumor ablation patient pool and interventional radiology channel.
• EDAP TMS: Focused ablation company (high-intensity focused ultrasound and other ablation modalities) addressing urology and broader oncology indications, with overlap in hospital interventional procedure workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NeuWave Medical