Outset Medical said today it raised $132 million in a Series D round of equity financing, with funds slated to accelerate the commercial expansion of its Tablo hemodialysis system.
The San Jose, Calif.-based company develops and produces the Tablo hemodialysis system, an all-in-1 dialysis machine designed to handle water purification and dialysate production and be used in a variety of different settings.
The round was led by the newly invested Mubadala Investment Company and joined by existing investors Baxter Ventures, Fidelity Management and Research Company, Partner Fund Management LP, Perceptive Advisors, funds advised by T. Rowe Price Associates and Warburg Pincus.
“Our investment in Outset Medical represents an exciting opportunity for Mubadala, as it is aligned with our goal of improving people’s lives while meeting a major global market need. We selected Outset Medical as our first U.S. private medtech investment because of Tablo’s ability to significantly improve global dialysis care and address one of the biggest areas of worldwide healthcare spend with very disruptive and innovative technology,” Mubadala pharma & medtech senior VP Camilla Languille said in a prepared statement.
Funds from the round will be used to help support production capabilities and to accelerate the commercial expansion of its Tablo system in acute and chronic care markets in the US, Outset said.
“Tablo offers patients and healthcare providers a new option for more flexible and convenient dialysis treatment, improving the dialysis experience while at the same time reducing overall dialysis spend. We are grateful to our investors for the opportunity to significantly impact the future of dialysis care,” CEO Leslie Trigg said in a press release.
Last month, Outset Medical raised $4.3 million in a round of mixed financing, according to an SEC filing.
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