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Hemodialysis device maker Outset Medical files for a $100 million IPO

August 21, 2020

Outset Medical, which provides a hemodialysis system for kidney diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company's Tablo Hemodialysis System is designed as a single enterprise solution that can be utilized across the continuum of care. To date, the company has focused primarily on the acute care setting, for which Tablo was cleared in 2014. It is in the early stages of commercializing in the home market, for which the device was cleared in March 2020.

The San Jose, CA-based company was founded in 2003 and booked $29 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol OM. BofA Securities, Morgan Stanley, Goldman Sachs, SVB Leerink and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.