HydroCision is a privately held medical device company that develops, manufactures, and markets surgical tools based on its proprietary FluidJet technology. The company's instruments deliver a pressurized, high-velocity stream of sterile saline to selectively cut, ablate, and aspirate targeted soft tissue without thermal damage. Its product portfolio includes the SpineJet system for minimally invasive discectomy and interbody fusion procedures, the TenJet device for percutaneous tenotomy (treating chronic tendinopathy), and the AlloJet system used in bone allograft preparation. Founded in 1994 as SurgiJet Corporation and renamed HydroCision in November 1996, the company is headquartered in North Billerica, Massachusetts. HydroCision has also licensed its pump cartridge technology to PROCEPT BioRobotics for use in urology applications.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
1994
Employees
30–50
Total Funding
$15.2M
3 rounds
Total raised $15.2M across 3 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Late-stage
Date
April 1, 2025
Amount
$2.5M
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| April 1, 2025 | Late-stage | $2.5M | — | Not disclosed |
| 2010 | Recap | Not disclosed | — | Volcano Capital, BioVentures, Omega Funds |
| Series G | $12.7M | — | Triathlon Medical Ventures |
Rick Lytle
President & Chief Executive Officer
Paul Kowalski
Head of Spine & Business Development
Thomas Abert
Head of Finance and Administration
Jill Martin
National Sales Director
Competitor list is illustrative and may be incomplete, stale, or erroneous.
PROCEPT BioRobotics
Public surgical robotics company that uses HydroCision-licensed aquablation technology for benign prostatic hyperplasia; adjacent fluid-jet surgical platform in urology.
Benvenue Medical
Develops minimally invasive devices for spinal therapies, competing with SpineJet in the discectomy and spinal repair market.
Spine View
Offers a minimally invasive direct-visualization surgical platform aimed at spinal decompression procedures.
Stryker
Diversified orthopedic and spine giant whose minimally invasive discectomy, fusion, and tissue-resection systems compete with HydroCision's SpineJet line.
Medtronic
Global medtech company with a large spine franchise offering competing minimally invasive discectomy and interbody fusion instruments.
Tenex Health
Maker of the TX percutaneous tenotomy device for chronic tendinopathy, the closest direct competitor to HydroCision's TenJet system.
No. HydroCision is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in HydroCision shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that HydroCision will complete an IPO or other liquidity event.
Yes, it is sometimes possible to buy HydroCision shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.
Buyers interested in buying HydroCision shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.
HydroCision's latest disclosed funding round was a Late-stage round in April 1, 2025. The round raised approximately $2.5M. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete.
HydroCision has raised approximately $15.2M in disclosed funding across 3 rounds. These figures reflect primary capital raised by the company and do not include every possible secondary transaction, undisclosed round, debt facility, or private transfer. Reported funding totals can change as new rounds are announced or older round details are corrected. Eligible users can use SetterVC to track HydroCision's funding history alongside private-market activity where available.
HydroCision's disclosed investors include Volcano Capital, BioVentures, Omega Funds and Triathlon Medical Ventures. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review HydroCision's funding history, valuation history, and private-market activity alongside other venture-backed companies.
HydroCision's most-cited competitors include PROCEPT BioRobotics, Benvenue Medical, Spine View, Stryker, Medtronic and Tenex Health. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.
Secondary-market demand for HydroCision shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.
Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.
Yes, current and former HydroCision employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.
A HydroCision secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify HydroCision through a share transfer notice or similar process. If HydroCision or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.
In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.
Buying HydroCision shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.
Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.
SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.
Before buying HydroCision shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.
SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.
Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.
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