Outset Medical, a San Jose, Calif.-based medtech innovator delivering technology into the global dialysis market, raised $125m in Series E equity financing.
The round was led by D1 Capital Partners, with participation from Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisors, funds advised by T. Rowe Price Associates Inc.
The company intends to use the funds for the commercial expansion of its Tablo Hemodialysis System across the acute and chronic care markets in the United States.
Led by Leslie Trigg, Chief Executive Officer, Outset Medical the Tablo Hemodialysis System is an FDA-cleared enterprise solution for dialysis, designed specifically to reduce the cost and complexity of dialysis across all care settings. Requiring an electrical outlet and tap water to operate, the mobile Tablo system frees patients and providers from the burdensome infrastructure required to operate conventional dialysis machines. The machine’s integrated functionality enables it to serve as a dialysis clinic on wheels and enables providers to standardize to a single platform that can be used across a wide spectrum of care settings.