US-based medical technology firm Outset Medical has raised $125m funding to advance the commercialisation of its Tablo hemodialysis system.
Based in Silicon Valley, Outset Medical is focused on technology-driven service model innovation intended at decreasing cost and transforming the patient care experience.
The series E equity financing round was headed by investment advisory firm D1 Capital Partners.
Other participants in the financing round include Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisors, funds advised by T. Rowe Price Associates.
D1 Capital Partners founder Dan Sundheim 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.”
Outset Medical will use the funding to enhance the commercial expansion of its Tablo hemodialysis system in acute and chronic care markets in the US.
Tablo hemodialysis system is CE-marked and FDA-cleared
Tablo hemodialysis system has secured CE mark and approved by the US Food and Drug Administration (FDA) for use in acute and chronic care settings.
The firm is also carrying out a clinical trial to expand Tablo’s labeled indication to include home use, in addition to its acute and chronic care commercial expansion.
Tablo is said to function as a dialysis clinic on wheels, with its real-time water purification and dialysis fluid production integrated in a single and compact system.
By using an electrical outlet and tap water, Tablo enables to avoid the use of expensive clinic infrastructure and provide-effective dialysis in a range of different use environments.
Outset’s Tablo system is provided with wireless data, sensor-based automation and an animated touchscreen, providing healthcare professionals a better user experience.
Outset Medical CEO Leslie Trigg 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.”
In August 2018, Outset Medical had secured $132m funding to increase production capabilities and accelerate commercial expansion of its Tablo hemodialysis system.
