Portland, OR (PRWEB) June 15, 2010
Home Dialysis Plus, Ltd. (HD+), a developer of devices and products for kidney dialysis, has secured a financial commitment to fund the commercialization of a new home hemodialysis system. HD+ recognizes the support of policymakers, local universities and institutions engaged in innovative solutions to healthcare as a precursor to this commercial investment.
“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.”
“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,” says Senator Ron Wyden. "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.”
The commitment by Warburg Pincus 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.
Currently, the standard of care for most patients is a series of four-hour treatments, three times per week at a dialysis clinic, a rigorous regime that can be both physiologically and emotionally taxing. The HD+ system is intended to offer a gentler treatment that will be easier on the patient and more affordable for dialysis providers.
As the recipients of this investment, HD+ 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 returned the favor by creating 30 new jobs within the region over the past four months.
About Home Dialysis Plus, Ltd.
Home Dialysis Plus, Ltd. (HD+) is focused on the advancement of home hemodialysis treatment for patients suffering from end-stage renal disease. Via the use of patented micro technologies, the company aims to produce an ultra patient-friendly system offering frequent dialysis treatment options that are expected to improve patient health outcomes. More information is available at http://www.homedialysisplus.com
About Warburg Pincus
Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 110 companies is highly diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $35 billion in over 600 companies in more than 30 countries.
The firm has invested more than $6.5 billion in healthcare companies, including investments in Allos Therapeutics (NASDAQ: ALTH), American Medical Systems (NASDAQ: AMMD), Bausch & Lomb, Coventry Health Care (NYSE: CVH), Eurand (NASDAQ: EURX), Euromedic International (acquired by Merrill Lynch Global Private Equity and Ares Life Sciences in 2008), Harbin Pharmaceuticals (SHA: 600664), Kyphon Inc. (acquired by Medtronic in 2007), Tornier B.V., Wright Medical Group (NASDAQ: WMGI) and Zentiva (LSE: ZEND and PSE: ZENTIVA). The firm has offices in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, São Paulo, Shanghai and Tokyo. For more information, please visit http://www.warburgpincus.com
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HD+ could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. HD+ assumes no obligation and does not intend to update these forward-looking statements, which are subject to change without notice.