Novo Holdings co-leads $245 million financing of British medical technology pioneer Quanta

Novo Holdings co-leads $245 million financing of British medical technology pioneer Quanta

Date
June 23, 2021
Location
Copenhagen, Denmark

Largest-ever private funding round for a dialysis device company.

Quanta Dialysis Technologies Ltd (“Quanta” or the “Company”), a medical technology leader delivering on its vision for more flexible and accessible dialysis care, announced today that it has raised $245 million in an oversubscribed and upsized Series D round, the largest private funding round for a dialysis device company in history.

The financing round was led by Glenview Capital and co-led by Novo Holdings, with support from a broad group of other top-tier investors, including BlackRock, Eldridge, Sands Capital, Millennium, Monashee Investment Management LLC., Puhua Capital, Segulah Medical and Ancora, alongside Orlando Health, an integrated delivery network. Existing shareholders also participated in the round, including Wellington Partners, btov, Seroba and The Grands.

“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,” said John E. Milad, CEO of Quanta.

“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 small, simple-to-use, and powerful dialysis system SC+ is positioned to help transform kidney care. The funding we are announcing today will allow us to accelerate our emergence as a significant force in this market,” he said.

Lee Hathaway, Partner and Co-Head of Healthcare at Glenview Capital, and Robert Ghenchev, Senior Partner at Novo Holdings and Head of Novo Growth, will be joining the Quanta Board of Directors.

“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,” said Lee Hathaway of Glenview Capital.

Robert Ghenchev, Novo Holdings, said: “We’ve been very impressed with Quanta’s team and innovative technology, which is making a meaningful difference to dialysis patients’ lives, and are excited to invest alongside a strong syndicate of investors committed to improving dialysis care.”

Quanta’s award-winning portable hemodialysis system SC+ is the only next-generation system that delivers the performance and dose equivalence of larger, traditional dialysis systems—with on-demand dialysate production and high dialysate flow rates—while also offering the portability, digital connectivity and ease-of-use of a next-generation dialysis device. Additionally, Quanta’s companion water purification module works with SC+ as an all-in-one mobile stack allowing dialysis treatments to be delivered in settings with just a standard water supply. This winning proposition positions SC+ to unlock the potential benefits of more flexible and more efficient dialysis delivery models for payors, providers, physicians and patients.

The funding announced today will allow Quanta to scale up global operations with a focus on the United States, where SC+ received 510(k) clearance from the FDA in December for use in acute and chronic care facilities.

Read the full company press release here.

About Quanta and SC+
Quanta is enabling the future of kidney care, with a mission to bring to market solutions that improve the delivery of dialysis and help people live more freely. Headquartered in the UK and with operations in the US, Quanta is a trans-Atlantic, commercial-stage medical technology innovator.

Quanta’s lead product, SC+, is a small and simple, powerful hemodialysis system designed to provide greater freedom and flexibility in the delivery of life sustaining dialysis treatments. In the US, SC+ is FDA cleared for use in acute and chronic care facilities, and in the UK, it is CE marked, where it has been successfully used to treat patients across a range of care settings, from the ICU and the clinic to the home.

The innovative and patented technology behind SC+ is based on a design breakthrough that allows all dialysate fluid management to be conducted on a small, lightweight, disposable cartridge. The simple-to-use and digitally connected design of SC+ is intended to empower more patients to take control of their lives with selfcare and home dialysis. Meanwhile, as a compact, portable and versatile device, SC+ provides flexibility to deliver dialysis across a wide range of use environments and prescriptions.

Learn more at Quantadt.com.

Further information

Christian Mostrup, Senior Programme Lead, Communications, +45 3067 4805, cims@novo.dk