Outset Medical raises $125m funding for Tablo Hemodialysis System
US-based medical technology company Outset Medical has secured $125 million funding in a Series E financing round for the commercialization of Tablo Hemodialysis System, an enterprise solution designed to bring down the cost and complexity of dialysis.
Outset Medical, based in Silicon Valley, deals with technology-driven service model innovation intended to reduce the cost and to transform the patient care experience.
D1 Capital Partners, an investment advisory company led the series E equity financing round and the other partners who participated are Fidelity Management and Research Company, Perceptive Advisors, Partner Fund Management, and funds advised by T. Rowe Price Associates.
Dan Sundheim – D1 Capital Partners founder said: “We believe in Outset’s vision for technology-driven care delivery improvement, and Tablo’s ability to disrupt the dialysis market.
“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.”
The funding raised by Outset Medical will be utilized for the commercial expansion of the Tablo Hemodialysis System in acute and chronic care markets in the US.
Tablo Hemodialysis System has been approved by the US Food and Drug Administration (FDA) for use in acute and chronic care settings and had also secured CE mark. It functions as a dialysis clinic on wheels with real-time water purification and dialysis fluid protection integrated in a single compact system.
The Tablo Hemodialysis System. Photo courtesy of PRNewsfoto/Outset Medical.
According to Outset Medical, Tablo prevents the use of costly clinic infrastructure by using electrical outlet and tap water, thus provide effective dialysis in a range of different use environments.
The Tablo System comes with wireless data, sensor-based automation, and animated touchscreen among other features.
Leslie Trigg – Outset Medical CEO said: “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.
“We thank our investors for their continued support and look forward to deploying this capital to significantly impact the future of dialysis care.”
Outset Medical had raised $132 million financing in a Series D funding round in August 2018, which was led by new investor Mubadala Investment Company.