A Warwickshire-based medtech has raised raised $245 million (£175 million) in the largest private funding round for a dialysis device company in history.
Quanta Dialysis Technologies Ltd, based in Alcester, offers portable dialysis care.
John Milad, CEO of Quanta, said: “Everybody knows that dialysis care must improve. For this to happen, providers and physicians need products that allow greater flexibility to bring dialysis directly to the patient, while simplifying complexity and reducing the overall cost of care.
“Our small, simple-to-use, and powerful dialysis system SC+ is positioned to help transform kidney care. The funding will allow us to accelerate our emergence as a significant force in this market.”
The Series D financing round was led by New York based Glenview Capital and co-led by Novo Holdings, with support from a broad group of other top-tier investors, including BlackRock, Eldridge, Sands Capital, Millennium Management, Monashee Investment Management LLC., Puhua Capital, Segulah Medical and Ancora, alongside Orlando Health, an integrated delivery network.
Existing shareholders also participated in the round, including Wellington Partners, btov, Seroba Life Sciences and The Grands.
Lee Hathaway, Partner and Co-Head of Healthcare at Glenview Capital, and Robert Ghenchev, Senior Partner at Novo Holdings and Head of Novo Growth, will be joining the Quanta Board of Directors.
Quanta’s award-winning portable hemodialysis system SC+ is the only next-generation system that delivers the performance and dose equivalence of larger, traditional dialysis systems while also being portability with digital connectivity.
Lee Hathaway of Glenview Capital, said: “Quanta’s innovative cartridge-based system is compact, simple and powerful, and provides tremendous value and treatment flexibility for providers and patients across an omni-channel delivery chain, from dedicated dialysis centers, acute care SM-00134-A hospitals, and increasingly moving into the home. With this growth capital, Quanta has the resources to drive improved patient outcomes and convenience while accelerating market penetration and scale.”
For chronic kidney disease patients, the current model requires them to spend multiple hours on multiple days each week in a dialysis clinic. The time and travel required of patients already living with conditions like chronic kidney disease is burdensome and limits their opportunities.
SC+ is able to deliver dialysis with a portable machine designed to be brought to the patient. For vulnerable patients in hospital and post-acute settings, being able to access dialysis on-site can mean better outcomes and lower costs of care.
Johan de Ruiter, Chairman of Quanta, said: “Innovation in kidney dialysis has been stagnant for too long – but the demand from patients, doctors, health care providers and payors for new, better and more flexible solutions is impossible to ignore.”
The funding will allow Quanta to scale up global operations with a focus on the United States, where SC+ received 510(k) clearance from the FDA in December for use in acute and chronic care facilities. The company is investing in significant infrastructure to scale up manufacturing, sales and customer service functions to support use in currently approved care settings within the United States, while also preparing to launch a study to support its future FDA clearance for in-home use within the United States. J.P. Morgan served as exclusive placement agent to Quanta for the transaction.