A medical tech company has secured a new round of funding said to be the largest of its kind in the history of its field.
Alcester-based Quanta Dialysis Technologies has agreed the deal worth $245 million from mainly US-based investors which will be used to scale up its global operations with a focus on the United States.
The company, which employs 150 UK staff mainly in Alcester and a further 15 in Massachusetts, makes the SC+, a small, powerful kidney dialysis system that is suitable for use in both clinical settings and the home.
It recently secured clearance for use in acute and chronic care facilities in the US.
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This latest funding, claimed to be the largest in history for a dialysis device company, was led by Glenview Capital and Novo, with support from a broad group of investors and existing shareholders.
Quanta Dialysis Technologies’ chief executive John Milad said: “We are delighted to attract such a strong syndicate of investors which represents a clear vote of confidence in our innovative approach to dialysis treatment. 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 dialysis system is positioned to help transform kidney care. This funding will allow us to accelerate our emergence as a significant force in this market.”
Glenview Capital partner Lee Hathaway added: “We are excited to partner with the existing and new shareholders of Quanta to support management’s commitment to transform and improve the safety, efficacy, cost and convenience of hemodialysis treatment.
“With this growth capital, Quanta has the resources to drive improved patient outcomes and convenience while accelerating market penetration and scale.”