![]() ![]() ![]() "In the mid- to long-term, we see Tablo potentially driving a paradigm shift to home hemodialysis (HHD) from in-center dialysis – something that the broader market has anticipated for some time and that now seems much closer to reality given the upcoming Advancing American Kidney Health Initiative." Having signed up “over a dozen of them,” Trigg sees a “very long runway” for the company.Īnalysts at SVB Leerink see Outset targeting the acute market in the near term, per a note to investors. The company is targeting the top 50 regional health systems. The cadence of expansion allows opportunities to grow sales from existing customers while working to sign up additional healthcare systems. Once that data has been established, we've seen their next step pretty quickly to be spreading that model across perhaps a division or a group of hospitals and then fairly quickly over time network-wide,” Outset CEO Leslie Trigg said on Wednesday's earnings call. “They'll start with a smaller number of hospitals in their network, integrating Tablo and quantifying the cost reduction impact how easy it is for them to train their own nurses to deliver dialysis. Those contracts can support further growth of Outset’s Tablo device. In the quarter, Outset signed contacts with three new national customers and three regional health systems, setting it up to work with six of the largest health systems in the country. Outset shared indications it can continue to grow on its third quarter results conference call. With spending on R&D and sales and marketing rising, Outset posted a gross loss of $5.1 million, compared to a gross loss of $5.3 million one year ago. Sales rose 423%, albeit from a low base of $2.6 million, due to increases in both product and service revenues. The third quarter results provide an early look at whether Outset is on track to justify the interest shown by investors. The stock soared when it began trading, more than doubling from the $27 IPO price before settling down around the $45 point. It netted $255 million to support the expansion of its sales and support organization while investing in R&D. OUTSET MEDICAL IPO PRICE PORTABLEHofheimer (Los Angeles and Palo Alto) Executive Compensation and Benefits partner Corey Perry (Chicago) and associate Richard Schneider (Chicago) Securities Enforcement and Regulatory (Section 13/16) partner Katie Klaben (Washington, D.C.), associate Erica Robertson (Washington, D.C.), and staff attorney Alyssa Locnikar (Washington, D.C.) Tax partner Rachel Kleinberg (Palo Alto) and associate Kimberly Goldman (Los Angeles) Securities Enforcement and Regulatory counsel (SEC matters) Sara von Althann (Washington, D.C.) and Securities Enforcement and Regulatory counsel (FINRA matters) Benjamin Nager (New York).Outset Medical, whose portable Tablo system has FDA clearance for use at home or in acute or chronic care facilities, went public in September. Other critical support was provided by Regulatory partners Torrey Cope (Washington, D.C.), Donielle McCutcheon (Chicago), Colleen Brown (Washington, D.C.), and associates Brigid DeCoursey Bondoc (Washington, D.C.), Kat Makielski (alumni), Corbin Santo (Chicago), and Megan Svedman (Washington, D.C.) Technology and IP Transactions partner Joshua T. The Sidley team was led by Global Life Sciences partner Frank Rahmani (Palo Alto and San Francisco) and Capital Markets partner Rob Ryan (New York), and associates Helen Theung, Nick DeAngelis, and BinQuan Zhuang (each Palo Alto). The transaction ranks among the largest recent medical technology company initial public offerings. Outset Medical sold 8.95 million shares in the offering at US$27 per share, pricing well above its disclosed range of US$22 to US$24 per share, and more than doubling in price in subsequent trading on NASDAQ. (NASDAQ: OM), a private equity-backed medical technology company focused on an innovative dialysis solution, in connection with its initial public offering, which was upsized to nearly US$278 million (including green shoe). ![]()
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