Investors & #039; Faith in Outset Overwhelming with Whopping $132M round

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 dialysi...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news