Outset Medical, a San Jose, CA-based commercial-stage company delivering technology into the global dialysis market, raised $132m in Series D equity financing.
The round was led by new investor Mubadala Investment Company, Abu Dhabi’s leading investment company, with participation from existing investors 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.
The company intends to use the funds to increase production capabilities and accelerate commercial expansion of its Tablo® Hemodialysis System in acute and chronic care markets in the United States.
Led by Leslie Trigg, Chief Executive Officer, Outset Medical provides the Tablo® Hemodialysis System which features real-time water purification and dialysis fluid production integrated in a single, compact system. It only requires an electrical outlet and tap water to operate.
The Tablo System is CE-marked and FDA-cleared for use in acute and chronic care settings. In addition to its acute and chronic care commercial expansion, the company is conducting a clinical trial to expand Tablo’s labeled indication to include home use.