Outset Medical Announces USD 125 Million Financing Led by D1 Capital Partners

SAN JOSE, Calif: Outset Medical, a leading medtech innovator delivering first-of-its-kind technology into the growing global dialysis market, today announced a USD 125 million Series E equity financing round led by D1 Capital Partners.

Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisors, funds advised by T. Rowe Price Associates Inc., also are participating in the financing.



Proceeds will be used to support commercial expansion of Outset Medical's Tablo Hemodialysis System across the acute and chronic care markets in the United States. Designed to reduce the cost and complexity of dialysis, Tablo expands how, when, and where dialysis can be provided.

We believe in Outset's vision for technology-driven care delivery improvement, and Tablo's ability to disrupt the dialysis market, said Dan Sundheim, Founder of D1 Capital Partners. With growing focus at the federal level on how to manage Chronic Kidney Disease, which is increasingly prevalent, we believe Tablo is the only device with the potential to transform the delivery of dialysis.

Dialysis is delivered to more than 550,000 U.S. patients several times per week to remove waste products and excess fluid from patients with kidney failure. Although more than 85 million dialysis treatments take place in the United States each year at an estimated annual cost of ~$75 billion, little meaningful technology or service model innovation has been introduced in decades.

Tablo's unique, intuitive, all-in-one design offers healthcare systems, providers and patients a way to meaningfully improve the dialysis experience while also reducing costs, said Leslie Trigg, Outset Medical's Chief Executive Officer. We thank our investors for their continued support and look forward to deploying this capital to significantly impact the future of dialysis care.
(PRN)

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Outset Medical Announces USD 125 Million Financing Led by D1 Capital Partners