Michigan Capital Network's recent acquisitions, including HistoSonics and Micro-LAM, highlight a thriving venture capital landscape in the state, driven by innovation in healthcare and technology.

Target Information

The recent acquisition of HistoSonics represents a significant milestone in the ongoing activities of Michigan Capital Network (MCN). Founded in 2009 as a spin-off from the University of Michigan, HistoSonics specializes in ultrasound-based medical technology, specifically the Edison Histotripsy System, which noninvasively targets and eliminates tumors. This innovative approach holds promise for patients facing critical health challenges and underscores the advancements in the healthcare sector driven by local start-ups.

Additionally, Micro-LAM, another key player within MCN's portfolio, was recently acquired by IDEX Corporation for $90 million. Established in 2017, Micro-LAM operates out of Portage and has carved a niche in advanced manufacturing technologies such as laser-assisted machining and precision diamond tools. These strategic acquisitions reflect the dynamic growth and potential within Michigan's entrepreneurial ecosystem.

Industry Overview in Michigan

Michigan's economy has a rich history in the agri-business sector, characterized by its diverse agricultural production including fruits, vegetables, and specialty crops. This agricultural base, combined with significant investment in technology and innovatio