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Outset Medical, Inc. (symbol: OM) is a pioneering medical technology company committed to revolutionizing the dialysis experience. The company’s primary product, Tablo, is an innovative dialysis machine designed to simplify and streamline the process of Renal Replacement Therapy. By focusing on a patient-centric approach, Outset Medical places patient care, ease of use, and cost-efficiency at the forefront of its operations.
The Tablo dialysis system is built with a user-friendly touchscreen display that offers step-by-step visual and conversational instructions, making it accessible to both patients and caregivers, regardless of their experience level. This intuitive design dramatically reduces the complexity and cost associated with traditional dialysis treatments. Tablo can be used across various settings, including hospitals, chronic care dialysis clinics, and at home, making it a versatile solution for renal care.
Outset Medical’s mission is to improve the care experience for patients, families, providers, and physicians, while also enhancing cost-efficiencies for healthcare providers. The company achieves this by combining expertise from different healthcare fields, fostering an environment of cross-disciplinary innovation. This approach has led to significant advancements in dialysis technology and patient care.
Recent achievements include regulatory approvals and partnerships aimed at expanding Tablo’s reach and improving its functionalities. Financially, Outset Medical has shown robust growth, supported by a dedicated team of professionals and continuous innovation in their product offerings. The company's efforts are geared towards giving people their time back by reducing the dialysis process's complexity and duration.
Stay updated with the latest developments and news about Outset Medical, Inc. to learn how this industry leader is transforming renal care.
Outset Medical, Inc. (Nasdaq: OM) appoints Katie Szyman to its board of directors. With over 30 years of experience, Szyman has a proven track record in global medtech, significantly growing businesses at Edwards Lifesciences and Medtronic. As VP at Edwards, she increased critical care revenue by nearly 50% to $800M in six years. Szyman aims to help Outset accelerate its growth and transformation in dialysis care delivery. Outset’s innovative Tablo™ Hemodialysis System simplifies dialysis, making it accessible in various settings.
Outset Medical (Nasdaq:OM) has joined the Moving Health Home coalition, aimed at transforming home healthcare by influencing policy changes. This initiative highlights the importance of home-based care, especially post-COVID-19, allowing patients to manage chronic diseases at home. Outset's Tablo Hemodialysis System offers a compact, user-friendly solution for dialysis, enabling patients to reclaim their autonomy. The coalition's goal is to advocate for legislative support to enhance home healthcare access, aligning with Outset's mission to improve patient outcomes and reduce healthcare costs.
Outset Medical, Inc. (OM) reported a significant first quarter in 2021 with net revenues of $22.9 million, up 219% from the prior year. The Company achieved a gross margin of 1.3%, improving from a gross loss of (49.6%) in Q1 2020. Operating expenses rose to $30.0 million, resulting in a net loss of ($30.0 million) or ($0.70) per share. Positive news includes strong demand for its Tablo system, leading to an updated revenue guidance of $92 million to $97 million for 2021, reflecting an 84% to 94% growth.
Outset Medical, Inc. (Nasdaq: OM) will participate in a fireside chat at the BofA Securities 2021 Virtual Health Care Conference on May 11, 2021, at 11:45am PT / 2:45pm ET. The event aims to discuss the company’s innovative dialysis technology, the Tablo Hemodialysis System, which simplifies dialysis treatment and enhances patient experience. A live and archived webcast will be available on Outset's website. This system allows for greater accessibility and efficiency in dialysis care, operating from hospital to home.
Outset Medical, Inc. (Nasdaq: OM) will announce its Q1 2021 financial results on May 5, 2021, after market close. A conference call with CEO Leslie Trigg and CFO Rebecca Chambers is scheduled for the same day at 2:00 PM PT (5:00 PM ET) to discuss these results. Outset is known for its innovative Tablo Hemodialysis System, designed to simplify dialysis treatment and reduce costs, allowing for flexibility in care delivery from hospitals to home settings.
Outset Medical, Inc. (Nasdaq: OM) announced the completion of its public offering, selling 2,945,864 shares at $53.50 each, alongside 3,890,723 shares from certain stockholders. The offering included 891,728 additional shares due to underwriter options, yielding net proceeds of approximately $149.7 million for Outset, after costs. The offering was managed by Morgan Stanley, BofA Securities, and Goldman Sachs, among others. Outset aims to leverage these funds for advancing its Tablo Hemodialysis System, which simplifies dialysis for patients and providers.
Outset Medical's Tablo Hemodialysis System has been awarded as one of seven winners in Round 2 of the KidneyX COVID-19 Kidney Care Challenge by the U.S. Department of Health and Human Services and the American Society of Nephrology. This recognition highlights Tablo's innovative solution for dialysis amid the pandemic, aimed at reducing transmission risks of COVID-19. With features like remote monitoring through TabloHub, Tablo simplifies dialysis, enhances patient care, and allows flexibility in resource management. The KidneyX Challenge has a total prize pool of $300,000 for innovative kidney care solutions.
Outset Medical, Inc. (Nasdaq: OM) has announced the pricing of a public offering of 2,500,000 shares of its common stock at $53.50 per share, alongside 3,444,859 shares sold by existing stockholders. Additionally, underwriters have a 30-day option to purchase up to 891,728 shares. The offering is set to close on April 13, 2021, subject to customary conditions. Morgan Stanley, BofA Securities, and Goldman Sachs are leading the underwriting effort. A registration statement related to this offering is effective with the SEC.
Outset Medical, Inc. (Nasdaq: OM) announced a proposed underwritten public offering of 2,500,000 shares of common stock, with an additional 750,000 shares option for underwriters. This offering is under market conditions and is subject to SEC registration. Morgan Stanley, BofA Securities, and Goldman Sachs are the lead managers for the offering. The funds raised are aimed at reducing dialysis costs and complexity through their innovative Tablo Hemodialysis System. However, completion of the offering is uncertain, depending on market conditions and other factors.
Outset Medical, Inc. (Nasdaq: OM) has appointed Andrea Saia to its board of directors, aiming to enhance its consumer focus and expand the home dialysis market. Saia, a global business leader with 40 years of experience, previously worked with major brands like Novartis and Procter & Gamble. CEO Leslie Trigg emphasized her expertise in the consumer health landscape as vital for Outset's growth. The company also announced that Ali Osman has stepped down from the board after contributing to its recent growth.
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