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Outset Medical secures new financing for production of Tablo Hemodialysis System
Outset Medical announced it has raised $132 million in a Series D equity financing to help support increased production capabilities and accelerate commercial expansion of its Tablo Hemodialysis System for acute and chronic care markets in the United States.
The round was led by new investor Mubadala Investment Company, an Abu Dhabi investment company, Outset said in a press release. Existing investors that participated in the equity round included Baxter Ventures, the venture capital arm of Baxter International; Fidelity Management and Research Company; Partner Fund Management LP; Perceptive Advisors; funds advised by T. Rowe Price Associates Inc.; and Warburg Pincus.
“Our investment in Outset Medical represents an exciting opportunity for Mubadala, as it is aligned with our goal of improving people’s lives while meeting a major global market need,” said Camilla Macapili Languille, senior vice president of Pharma & Medtech at Mubadala. “We selected Outset Medical as our first U.S. private medtech investment because of Tablo’s ability to significantly improve global dialysis care and address one of the biggest areas of worldwide health care spend with very disruptive and innovative technology.”
The Tablo uses real-time water purification and dialysis fluid production integrated in a single system.
“Tablo offers patients and healthcare providers a new option for more flexible and convenient dialysis treatment, improving the dialysis experience while at the same time reducing overall dialysis spend,” said Leslie Trigg, Outset Medical’s CEO. “We are grateful to our investors for the opportunity to significantly impact the future of dialysis care.”
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