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Outset Medical gets financing to expand introduction of Tablo dialysis machine
Outset Medical announced it received $76.5 million in Series C equity funding. A new investor, funds advised by T. Rowe Price Associates Inc., led the round, which also included participation from existing investors Fidelity Management & Research Company, Partner Fund Management LP, Warburg Pincus, Perceptive Advisors and The Vertical Group.
Outset’s technology, the Tablo Hemodialysis System, is aimed at clinics who want to develop the self-care option for patients. It can also be used in hospitals and skilled nursing facilities.
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The company will use proceeds from the financing to expand the commercial introduction of the Tablo System in acute and chronic care markets in the United States.
Tablo uses sensor-based automation, wireless data transmission and a touchscreen interface. The company said it was created to feel and function more like a consumer product than a medical device.
Tablo connects directly to regular tap water, purifies it on demand, and generates streaming dialysis fluid in real-time, while the patient is dialyzing.
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“Physicians and patients are excited about our technology, which meaningfully upgrades the patient’s treatment experience and offers a new avenue for cost reduction in a historically labor-intensive, infrastructure-intensive area of healthcare,” said Leslie Trigg, Outset Medical’s CEO. “This funding will provide the resources needed to scale our launch and brings us a step closer to making a significant and lasting impact on dialysis care.”