Outset Medical, which wants to bring new solutions for kidney dialysis patients, receives new patents.
The med-tech startup raised $125 million Series E equity financing round, led by D1 Capital Partners, with Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisiors, and T. Rowe Price Associates participating.
Dialysis is delivered to more than 550,000 patients several times per week to remove waste and excess fluid from kidney failure patents. Although more than 85 million dialysis treatments happen in the US each year at an estimated annual cost of $75 billion, technology and innovation have not caught up to modernize the process. Outset Medical is working on tech to change this.
“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 CEO, in a statement. “We thank our investors for their continued support and look forward to deploying this capital to significantly impact the future of dialysis care.”
“We believe in Outset’s vision for technology-driven care delivery improvement, and Tablo’s ability to disrupt the dialysis market,” added 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 will use its new funding to support commercial expansion of its Tablo Hemodialysis System, to cross the acute and chronic care markets in the US. The product is designed to reduce the cost and complexity of dialysis, and expands how, when and where it can be provided.