Outset Medical Inc. was founded in 2003 and had long been focusing on dialysis innovation methods, such as extrarenal blood purification in acute and chronic renal failure.
In particular, the company was the first to introduce a technology to reduce the cost and complexity of dialysis. Outset Medical manufactures portable dialysis machines that make it easier to carry out the procedure both in hospitals and at home due to a smaller size compared to other companies' machines. With a clinic in Cleveland, the company was able to prove its products had reduced the ICU costs by around 55%.
According to Crunchbase, an analytical platform, the startup has raised about $450 million in investments since its inception. Outset sells its devices to dialysis clinics, its two largest customers being a government distributor, which accounts for nearly 20% of the revenue, and the Federal Department of Health, which accounts for 16% of the revenue.
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