yes

Yes this is known as mechanical effects of ultrasound - the mantas shrimp is an phenomenal example of utilizing unstable bubbles to cause implosions increasing the energy levels they can deliver to prey.

The bubbles can form form liquids in low pressures. Instability of the bubble arises due to the compression and rarefaction phases of the sine wave, the oscillation alone can cause micro-streaming changing cell permeability however; at low pressures of rarefaction will cause the bubbles to expand, and may lead to rupture. This causes the implosion which give of huge levels of energy including heating. The use of this in soft tissues can cause micro-cavitation, vasculature rupture and heating. A common application of this process which demonstrates is high energy levels is the use in the fragmentation of kidney stones during lithotripsy.

Here is a good article covering a large variety of its uses and applications as well as risk factors.

https://www.umbjournal.org/article/S0301-5629(17)30052-2/fulltext