Home Dialysis Plus, a Portland medical technology company, has landed as
much as $50 million in private investment to bring its kidney treatment to market...
... The money comes from the New York-based private equity
firm Warburg Pincus, which agreed to provide as much as $50 million to commercialize HD Plus' technology...... HD Plus
developed a portable kidney dialysis machine for home use, which may free patients from having to visit clinics several times a week for three-hour treatment sessions...
... The company will use the
money to finish developing its products and begin marketing them ...
Home Dialysis Plus
: 2004 Product
for kidney dialysis
at home Investment
: $50 million from
and The Vertical
: HD Plus licenses
nology from Hewlett-Packard Co.
and Oregon State University
: Portland State
Business Accelerator Employees
36, split between
Portland and Corvallis
"We have a very specific timeline for developing the product," Michael Baker, president and CEO of the company, said. He wouldn't
disclose that timeline, which includes a federal approval process, but said "It's not years out." ...
... Dialysis is used to treat patients with kidney failure, which afflicts more than 485,000 Americans, according to the National Kidney Foundation, including 341,000 being treated by kidney dialysis. Diabetes and high blood pressure are chief causes.
A former Lockheed Martin and GE Medical vice president, Baker also worked as a
director at GE Medical. He and his partners started HD Plus six years ago, but efforts to find investment backing were hamstrung by the recession ... HD Plus found support in other ways, however...
-- the Oregon Nanoscience and Microtechnologies Institute -- granted $170,000 to HD Plus in 2007 to help it develop a prototype of its home dialysis machine.
In 2008, Hewlett-Packard Co. licensed
its inkjet technology to HD Plus
to help mix the salt, electrolyte and water solution used in dialysis. HD Plus applies the microfluidic technology HP developed for printers to kidney dialysis.
also has a licensing agreement with Oregon State University
to incorporate technology developed at OSU for blood filtration and water treatment...
Read on at: http://www.bizjournals.com/portland/stories/2010/06/14/daily21.html