Outset Medical Announces $132 Million Series D Round

On August 28, 2018, Outset Medical, a Silicon Valley-based commercial-stage company delivering first-of-its-kind technology into the growing global dialysis market, announced that it has raised $132 million in a Series D round of equity financing. Wilson Sonsini Goodrich & Rosati represented Outset Medical in the transaction.

The round was led by new investor Mubadala Investment Company, Abu Dhabi's leading investment company, with participation from existing investors Baxter Ventures, the venture capital arm of Baxter International, Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisors, funds advised by T. Rowe Price Associates, and Warburg Pincus.

According to a company press release, Outset Medical will use the proceeds from the financing to increase production capabilities and accelerate commercial expansion of its Tablo® Hemodialysis System in acute and chronic care markets in the U.S. Designed to reduce the cost and complexity of dialysis, Tablo expands how, when, and where dialysis can be provided. In addition to its acute and chronic care commercial expansion, the company is conducting a clinical trial to expand Tablo's labeled indication to include home use.

The WSGR team that represented Outset Medical in the transaction included partner Philip Oettinger and associates Brian Appel and Drew Morris.

For more information, please see the company's press release.