Outset Medical, a San Jose, CA-based commercial-stage company delivering technology into the global dialysis market, raised $76.5m in Series C equity funding.
The round was led by funds advised by T. Rowe Price Associates, Inc., with participation from existing investors Fidelity Management & Research Company, Partner Fund Management LP, Warburg Pincus, Perceptive Advisors and The Vertical Group.
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.
Led by Leslie Trigg, CEO, Outset provides the Tablo™ Hemodialysis System, a CE-marked and FDA-cleared novel dialysis system that can be used across a range of clinical settings from dialysis clinics to hospitals and skilled nursing facilities.
Using sensor-based automation, wireless data transmission and a touchscreen interface, Tablo allows patients to set up and monitor their own treatment independently without relying on clinic staff. It connects directly to regular tap water, purifies it on demand, and generates streaming dialysis fluid in real-time, while the patient is dialyzing.