The San Jose, CA-based company is seeking to redefine and simplify Hemodialysis through its Tablo device.

Omar Ford

August 29, 2018

2 Min Read
Investors' Faith in Outset Overwhelming with Whopping $132M round
Courtesy of Outset Medical

When Leslie Trigg took the helm of Outset Medical in 2013, she helped lead a $60 million series B round. The San Jose-based company was also working to get the Tablo Hemodialysis system, a device that simplifies dialysis procedures, on the market.

But oh, how things have changed.

Outset Medical has seen Tablo gain a nod from the FDA in 2015 and has even seen a surge in investor and consumer interest in the device. Earlier this week, Outset Medical executives revealed the company closed on a $132 million a series D equity round.

The round was backed by some heavy hitters and led by new investor Mubadala Investment Company, active in numerous sectors and more than 30 countries around the world. 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 also participated in the equity round.

“The funds are going to be used to expand our manufacturing capacity and to accelerate commercial expansion,” Trigg, told MD+DI. “Having [just] come out of a [limited release], we’re ready now for full-scale commercial release. The series D was closed to finance that effort.”

Tablo was designed to transform what Outset executives say is a large but stagnant, dialysis landscape. With real-time water purification and dialysis fluid production integrated in a single, compact system, Tablo functions like a dialysis clinic on wheels. Requiring just an electrical outlet and tap water to operate, Tablo frees providers from having to rely on expensive clinic infrastructure, enabling on-demand, cost-effective dialysis in a range of different use environments.

Trigg said that people are in disbelief when they first hear about Tablo and that there has been a great deal of response about the device.

“The response has been - is this for real,” Trigg said. “Can you really miniaturize an entire water treatment room into a 15-inch box?”

She noted that once they see the device in action all doubts are put to rest. Plans call for Outset Medical to seek additional indications for Tablo.

“Probably the next milestone behind [our full commercial launch of Tablo] would be the completion of the clinical trial for home-use and then a submission to FDA for an expanded use of Tablo that would potentially include the use of the [device] in the home,” Trigg said.

About the Author(s)

Omar Ford

Omar Ford is MD+DI's Editor-in-Chief. You can reach him at [email protected].

 

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