Outset Medical Awarded VA Contract Aimed at Improving Dialysis Care for Veterans

Rhea-AI Summary

Outset Medical, Inc. (NASDAQ: OM) has secured a national contract with the United States Department of Veterans Affairs to enhance the availability of its Tablo® Hemodialysis System in 106 VA hospitals across the U.S. This five-year contract allows for indefinite quantities of Tablo units to provide advanced dialysis care, benefiting 35,000 veterans. The Tablo system, FDA-cleared, supports at-home and acute care, featuring two-way cloud communication for patient monitoring, thus transforming the dialysis experience.

Positive

• Secured a national contract with the Department of Veterans Affairs.
• Tablo® Hemodialysis System will be available in 106 VA hospitals, increasing access to advanced dialysis care.
• Contract supports approximately 35,000 veterans receiving dialysis treatment.
• Tablo allows for flexible treatment options tailored to patient needs.

Negative

• None.

Outset’s Tablo® Hemodialysis System to become more widely available to veterans through a national contract with the United States Department of Veterans Affairs.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Outset Medical, Inc. (Nasdaq: OM) (“Outset”) announced today that the Strategic Acquisition Center (SAC) Office of Procurement, Department of Veterans Affairs awarded a national contract that enables the company’s Tablo® Hemodialysis System to be sold into the 106 VA hospitals in the U.S.

VA medical facilities across the U.S. provide dialysis care for 35,000 veterans. While Tablo is already deployed in some of those facilities, the new five-year contract will enable VA centers to acquire consoles to send veterans home and expand usage in the acute setting. The award provides for an indefinite quantity of services and goods during the Indefinite Delivery Indefinite Quantity (IDIQ) Award Contract. As part of one of the three centralized contracting entities within the VA, the SAC has been tasked to create superior procurement solutions that deliver on the VA’s promise to veterans.

“Our honored veterans deserve to have the most advanced dialysis care possible, and it is our great privilege to support them through the SAC contract for hemodialysis care,” said Leslie Trigg, Chair and Chief Executive Officer of Outset. “This partnership with the VA will further our mission to bring a technology-enabled, patient-centered approach to dialysis both in the acute and home setting.”

Outset offers the Tablo Hemodialysis System for kidney patients, which is a first-of-its-kind enterprise solution, FDA-cleared for use across the entire continuum of care — from hospital to home. A connected and intelligent device, Tablo has two-way communication with the cloud, which allows treatment data to be sent electronically and enables physicians to remotely monitor patients so that they feel connected to their medical team while being comfortable at home.

Outset, through SDV Medical, was awarded the contract opportunity for SLED, HHD integrated HD/water purification and IHD integrated HD/water purification dialysis:

• SLED, or Slow Low Efficiency Dialysis, with Tablo allows for the ability to offer adaptive dialysis specific to a patient’s needs. Incumbent dialysis machines provide either a continuous 24-hour treatment or a short (3-4 hour) treatment, but lack the clinical flexibility to offer treatment durations in between. By contrast, Tablo offers clinicians the flexibility to align treatment time to the patient’s clinical needs.

• HHD, or home hemodialysis, allows the patient to perform dialysis treatments in their own home, safely and efficiently, using Tablo, which requires only a standard electrical outlet and tap water to operate.

• IHD, or intermittent hemodialysis, allows for traditional dialysis treatment over a 3 to 4-hour period in a chronic or acute setting.

About Outset Medical, Inc.

Outset is a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis. The Tablo Hemodialysis System, FDA-cleared for use from the hospital to the home, represents a significant technological advancement that transforms the dialysis experience for patients and operationally simplifies it for providers. Tablo serves as a single enterprise solution that can be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere and by anyone. The integration of water purification and on-demand dialysate production enables Tablo to serve as a dialysis clinic on wheels, with 2-way wireless data transmission and a proprietary data analytics platform powering a new holistic approach to dialysis care. Tablo is a registered trademark of Outset Medical, Inc.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements regarding Outset’s strategy, expectations, plans and prospects with respect to the SAC contract and the anticipated outcome and benefits of the contract. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause actual results and other events to differ materially from those expressed or implied in such statements. These risks and uncertainties include risks described in the Risk Factors section of Outset’s most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Outset disclaims any obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005105/en/

Media Contact

Nicole Shannon

Director, Marketing Communications for Outset Medical

nshannon@outsetmedical.com

Investor Contact

Jim Mazzola

Vice President, Investor Relations

858-342-8272

jmazzola@outsetmedical.com

Source: Outset Medical, Inc.

FAQ

What is the significance of Outset Medical's contract with the VA?

Outset Medical's contract with the VA increases the accessibility of the Tablo Hemodialysis System in 106 hospitals, providing advanced dialysis treatment to 35,000 veterans.

How does the Tablo Hemodialysis System benefit veterans?

The Tablo system offers flexible dialysis treatments tailored to individual needs, enhancing care for veterans both at home and in medical facilities.

What is the duration of the contract awarded to Outset Medical?

The contract awarded to Outset Medical has a duration of five years.

What is the stock symbol for Outset Medical?

Outset Medical's stock symbol is OM, listed on NASDAQ.

How many veterans will benefit from the Tablo system through the VA contract?

Approximately 35,000 veterans receiving dialysis treatment will benefit from the availability of the Tablo system.