Home Dialysis Plus raises $50 million

Tuesday, June 15, 2010, 5:03pm PDT
Home Dialysis Plus raises $50 million
Portland Business Journal - by Matthew Kish Business Journal managing editor

Private equity giant Warburg Pincus has agreed to invest up to $50 million in Home Dialysis Plus Ltd.

The Portland-based company makes a portable system for kidney dialysis.

“Today’s dialysis patients, doctors and providers are demanding improvements and cost-effective alternatives to standard treatment regimes,” Michael Baker, president and CEO of the company, said in a news release.

Baker could not immediately be reached. It's unclear how much Warburg Pincus originally plans to invest and how it will determine whether to invest the entire $50 million.

Most dialysis patients require four-hour treatments three times per week at a clinic. The HD Plus technology can be used at home and is gentler than traditional dialysis.

Sen. Ron Wyden, D-Ore., who’s steered $45 million in federal money to the Oregon Nanoscience and Microtechnologies Institute, called the investment a “major victory for the future of nanotechnology and for the Oregon economy.”

“This commitment by Warburg Pincus in the technology developed by HD+ is a tremendous advance for kidney dialysis patients and for the cause of lowering the costs of health care,” Wyden said in a news release. “It is also a victory for nanotech jobs, since HD+ plans to develop its their new portable dialysis system right here in Oregon.”

HD Plus employs 36.

mkish@bizjournals.com | 503-219-3414

http://www.bizjournals.com/portland/stories/2010/06/14/daily21.html