The firm intends to utilise the proceeds to scale up global operations with a focus on the US
Quanta Dialysis Technologies has secured $245m funding in a Series D round to speed up the commercialisation of its SC+ Portable Hemodialysis System.
Led by Glenview Capital and co-led by Novo Holdings, the funding round received support from a group of other top-tier investors, including BlackRock, Eldridge, Sands Capital, and Millennium Management, among others.
The financing round also attracted the participation of existing shareholders, including Wellington Partners, btov, Seroba Life Sciences and The Grands.
The dialysis device company intends to utilise the proceeds to scale up global operations with a focus on the US.
Quanta chairman Johan de Ruiter 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.
“We are excited to scale up our operations, enabling us to provide access to this critical new technology that will save lives, improve patients’ quality of life and lower healthcare costs.”
Quanta’s SC+ portable hemodialysis system has secured 510(k) clearance from the FDA in December for use in acute and chronic care facilities. The system is also CE marked in the UK.
SC+ is a small hemodialysis system designed to provide enhanced flexibility in the delivery of life sustaining dialysis treatments.
With a simple-to-use and digitally connected design, the system enables patients to take control of their lives with selfcare and home dialysis.
To support its use in currently approved care settings within the US, the company is investing to scale up manufacturing, sales and customer service functions.
In addition, the UK-headquartered company is planning to launch a study to secure its future FDA clearance for in-home use within the US.
J.P. Morgan acted as exclusive placement agent to Quanta for the transaction.
In July 2019, Quanta secured £38m ($48m) in a first closing of its Series C funding round.