10.14.15
Outset Medical, a company attempting to reimagine the experience of dialysis care for kidney disease patients, has secured $91 million in equity and debt funding. New investor Fidelity Research and Management Company led the $51 million in equity financing, with participation from existing investors Warburg Pincus and The Vertical Group, as well as new investors Partner Fund Management LP, Perceptive Advisors and CRG. In addition, CRG led a $40 million debt financing.
Outset Medical’s Tablo System combines consumer product simplicity, wireless connectivity and real-time integrated water purification to create a 35-inch dialysis clinic on wheels. Tablo has been cleared by the U.S. Food and Drug Administration (FDA) for use in acute and chronic care settings such as dialysis clinics and hospitals.
The company plans to use the financing to launch the product this year and pursue expanded FDA clearance to allow patients to use Tablo at home. The FDA approved an investigational device exemption trial to evaluate the safety and efficacy of Tablo in this setting.
“We are gratified by the strong showing of support from existing and new investors who share our vision of expanding where, how and who can perform hemodialysis,” said Leslie Trigg, Outset Medical CEO. “Today, hemodialysis is labor-intensive and expensive to provide, and many patients lack flexibility and control over the experience. Tablo enables new care delivery models that may offer significant cost reduction opportunities for providers while substantially improving the experience for patients.”
Outset Medical’s Tablo System turns a complicated process into one patients can master through consumer product design and technology automation. Designed to look and feel more like a consumer product than a medical device, Tablo’s small size, color and form factor are intended to minimize patient apprehension and build confidence and competence, company bigwigs said. Automation dramatically reduces the time involved in setting up and managing dialysis whether in the clinic or at home. For example, the system requires less than half the number of set-up steps compared to incumbent dialysis machines. The user engages with Tablo through a touchscreen that offers step-by-step 3-D animation and conversational instructions that enable a self-guided, customized experience.
Tablo removes the need for expensive clinic infrastructure, the company added. The system connects to tap water and purifies it on demand. Tablo also generates dialysate (dialysis solution) in real-time while the patient is dialyzing. By disconnecting dialysis from expensive “bricks and mortar” infrastructure, Tablo expands the settings in which dialysis can be efficiently delivered.
At the end of treatment, Tablo transmits clinical data wirelessly to care providers. This connectivity streamlines a process that historically has been manual, time-consuming and costly.
Outset Medical is located in San Jose, Calif., and is backed by Warburg Pincus, Fidelity Research and Management Company, Perceptive Advisors, Partner Fund Management LP, The Vertical Group and CRG.
Outset Medical’s Tablo System combines consumer product simplicity, wireless connectivity and real-time integrated water purification to create a 35-inch dialysis clinic on wheels. Tablo has been cleared by the U.S. Food and Drug Administration (FDA) for use in acute and chronic care settings such as dialysis clinics and hospitals.
The company plans to use the financing to launch the product this year and pursue expanded FDA clearance to allow patients to use Tablo at home. The FDA approved an investigational device exemption trial to evaluate the safety and efficacy of Tablo in this setting.
“We are gratified by the strong showing of support from existing and new investors who share our vision of expanding where, how and who can perform hemodialysis,” said Leslie Trigg, Outset Medical CEO. “Today, hemodialysis is labor-intensive and expensive to provide, and many patients lack flexibility and control over the experience. Tablo enables new care delivery models that may offer significant cost reduction opportunities for providers while substantially improving the experience for patients.”
Outset Medical’s Tablo System turns a complicated process into one patients can master through consumer product design and technology automation. Designed to look and feel more like a consumer product than a medical device, Tablo’s small size, color and form factor are intended to minimize patient apprehension and build confidence and competence, company bigwigs said. Automation dramatically reduces the time involved in setting up and managing dialysis whether in the clinic or at home. For example, the system requires less than half the number of set-up steps compared to incumbent dialysis machines. The user engages with Tablo through a touchscreen that offers step-by-step 3-D animation and conversational instructions that enable a self-guided, customized experience.
Tablo removes the need for expensive clinic infrastructure, the company added. The system connects to tap water and purifies it on demand. Tablo also generates dialysate (dialysis solution) in real-time while the patient is dialyzing. By disconnecting dialysis from expensive “bricks and mortar” infrastructure, Tablo expands the settings in which dialysis can be efficiently delivered.
At the end of treatment, Tablo transmits clinical data wirelessly to care providers. This connectivity streamlines a process that historically has been manual, time-consuming and costly.
Outset Medical is located in San Jose, Calif., and is backed by Warburg Pincus, Fidelity Research and Management Company, Perceptive Advisors, Partner Fund Management LP, The Vertical Group and CRG.