Warwickshire medtech firm in £173m US expansion plan
An Alcester company which specialises in dialysis care has raised over £176m in a private funding round – the largest of its kind for a dialysis device company in history.
Quanta Dialysis Technologies has put together the cash from a group of investors including including BlackRock, Eldridge, Sands Capital, Millennium Management, Monashee Investment Management, 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 Life Sciences and The Grands. 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.
Quanta will use the cash to scale up its global operations – particularly in the US. The firm makes the SC+ device, which delivers the performance and dose equivalence of larger, traditional dialysis systems and can be used in a home setting.
“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.”
Robert Ghenchev at Novo Holdings said: “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.
J.P. Morgan served as exclusive placement agent to Quanta for the transaction.
