The portable Tablo system requires only an electrical outlet and tap water to operate and frees patients and providers from the burdensome infrastructure required to operate conventional dialysis machines.
FREMONT, CA: Outset Medical, a leading medtech innovator delivering first-of-its-kind technology into the growing global dialysis market, raised a $125 million in its Series E equity financing round.
D1 Capital Partners led the round with participation from Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisors, and funds advised by T.Rowe Price Associates Inc.
"We believe in Outset's vision for technology-driven care delivery improvement, and Tablo's ability to disrupt the dialysis market," said Dan Sundheim, Founder of D1 Capital Partners. "With growing focus at the federal level on how to manage Chronic Kidney Disease, which is increasingly prevalent, we believe Tablo is the only device with the potential to transform the delivery of dialysis."
Outset Medical plans to use the funds to support the commercial expansion of its Tablo Hemodialysis System across the acute and chronic markets in the United States. Designed to reduce the cost and complexity of dialysis, the portable Tablo system requires only an electrical outlet and tap water to operate. It frees patients and providers from the burdensome infrastructure needed to operate conventional dialysis machines. Its integrated functionality enables it to serve as a dialysis clinic on wheels and allows providers to standardize to a single platform that can be used across a broad spectrum of care settings.
"Tablo's unique, intuitive, all-in-one design offers healthcare systems, providers, and patients a way to meaningfully improve the dialysis experience while also reducing costs," said Leslie Trigg, Outset Medical's Chief Executive Officer. "We thank our investors for their continued support and look forward to deploying this capital to significantly impact the future of dialysis care."
Dialysis can be life-limiting for patients who must be hooked up to a machine for several hours a week. More than 550,000 patients in the U.S. live with kidney failure and undergo dialysis several times a week to filter waste products and excess fluids from their bloodstream. It creates an estimated annual cost of $75 billion across the country; however, only limited technology or service model innovation has been introduced in decades.