PORTLAND, Ore.—Home Dialysis Plus, Ltd. (HD+) said June 16 that it has secured $50 million to fund the commercialization of a new home hemodialysis system.
“Today’s dialysis patients, doctors and providers are demanding improvements and cost-effective alternatives to standard treatment regimes,” said Michael Baker, CEO of HD+. “Thanks to a commitment to invest up to $50M by global private equity firm Warburg Pincus, we now have the ability to advance the HD+ technology in hopes of meeting that demand. It’s a privilege to have investors of this caliber supporting such an effort.”
The funding will allow HD+ to further the development of a portable dialysis system that is intended to allow patients to experience the benefits of frequent dialysis, a treatment regime that more closely simulates natural kidney processes and has been shown to improve patients’ quality of life, according to the company.
“This is not only a tremendous victory for kidney dialysis patients and the cause of lowering the costs of health care, it is a victory for the ever-growing promise of nanoscience and microtechnology,” said Sen. Ron Wyden, D-Ore. "This is an example of how targeted, smart public investment can trigger job-creating private investment in Oregon and beyond. HD+ is now poised to become a market leader in this medically-critical technology, and that can only help further establish Oregon’s reputation as a location of choice for nanoscience companies and capital.”
HD+ said it credits Oregon Nanoscience and Microtechnologies Institute (ONAMI) and Oregon State Venture Fund for previous investments that propelled HD+ to an investor-ready position. The company has created 30 new jobs within the region over the past four months.
