Outset Medical, a San Jose, CA-based developer of a new system to manage dialysis care for patients with kidney disease, raised $91m in equity and debt funding.
The $51m equity round of financing was led by new investor Fidelity Research and Management Company with participation from existing investors Warburg Pincus and The Vertical Group, as well as new investors Partner Fund Management LP, Perceptive Advisors and CRG.
CRG led the $40m debt financing.
Led by Leslie Trigg, Outset Medical, Outset Medical provides the Tablo™ System, which combines 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 will use proceeds to begin a controlled commercial introduction this year and to pursue expanded FDA clearance to allow patients to use the system at home.