Simergent Company Profile

Background

Overview

Founded in 2014, Simergent is a privately held medical device company headquartered in Oklahoma City, Oklahoma, with an additional office in Chicago, Illinois. The company specializes in developing affordable, patient-centered home dialysis solutions, particularly focusing on peritoneal dialysis (PD) devices. Simergent's mission is to enhance the quality of life for kidney disease patients by providing cost-effective and user-friendly home dialysis options, thereby addressing both affordability and accessibility challenges in dialysis treatment.

Key Strategic Focus

Core Objectives

• Affordability and Accessibility: Developing dialysis devices that are significantly more affordable than existing options, making home dialysis accessible to a broader patient population, including those in emerging markets.

• Patient-Centric Design: Creating devices that are easy to use, reducing the complexity of home dialysis and improving patient compliance and comfort.

Primary Markets

Simergent targets both developed and emerging markets, aiming to provide affordable home dialysis solutions globally. The company's devices are designed to be cost-effective and user-friendly, making them suitable for a wide range of patients, including those in regions with limited access to traditional dialysis facilities.

Financials and Funding

Funding History

Simergent has successfully secured funding through various channels:

• May 2024: Raised $7.8 million in a later-stage venture capital round.

• April 2019: Secured $3 million in a seed funding round, with participation from investors such as i2E and Pathway Bioventures.

• October 2017: Obtained $1.2 million in seed funding from the Oklahoma Seed Capital Fund and SeedStep Angels.

Total Funds Raised

To date, Simergent has raised approximately $12 million to support its product development and market expansion initiatives.

Pipeline Development

Key Product: Archimedes System

Simergent's flagship product, the Archimedes system, is an automated peritoneal dialysis device designed to:

• Affordability: Cost up to 85% less than existing home dialysis devices, which can be priced up to $20,000.

• Usability: Feature a user-friendly interface with self-guided pictorial screens, reducing training time and supporting a diverse patient population, including those who are illiterate or non-medical users.

• Efficiency: Reduce therapy time by an hour compared to other devices, allowing the entire treatment to be performed while the patient sleeps.

• Infection Prevention: Incorporate novel technology to reduce peritonitis infections, a serious complication in PD therapy.

Development Timeline

The Archimedes system was expected to launch in Mexico in 2020, followed by introductions in India and China.

Technological Platform and Innovation

Proprietary Technologies

Simergent has developed innovative technologies to enhance the effectiveness and safety of home dialysis:

• Faraday™ APD Technology: Enables the creation of customized dialysate solutions, allowing individualized glucose-sparing and sodium-adjustment therapies to improve cardiac outcomes and prolong peritoneal membrane function.

Scientific Methodologies

• Customizable Dialysate Solutions: The Faraday system can admix fluids from multiple sources, including the patient's home tap water, to create dialysate solutions with tailored dextrose and sodium concentrations.

Leadership Team

Executive Profiles

• Steve Lindo: Co-Founder and Chief Executive Officer. With 18 years of experience in systems engineering and business development, including 13 years in peritoneal dialysis, Lindo was the lead system designer for Baxter Healthcare’s HomeChoice dialysis system.

• Rick Pendergraft, Ph.D.: Co-Founder and Chief Technology Officer. Pendergraft has been instrumental in developing Simergent's proprietary technologies and holds multiple patents related to dialysis devices.

• James Sloand, M.D.: Chief Medical Officer. Dr. Sloand brings extensive medical expertise to the team, focusing on the clinical aspects of Simergent's product development.

Competitor Profile

Market Insights and Dynamics

The global dialysis market is experiencing significant growth due to the increasing prevalence of end-stage renal disease (ESRD) and the rising demand for home-based treatments. Home dialysis offers patients greater flexibility and improved quality of life, driving innovation and competition in this sector.

Competitor Analysis

Simergent faces competition from several companies offering home dialysis solutions:

• Nulife Dialysis: A smaller competitor with approximately six employees and revenue of $531,000.

• Cincinnati Home Dialysis: Employs 13 staff members and reports revenue of $2.3 million.

• New Start Dialysis Center: Operates with six employees and has revenue of $794,000.

• Alliance for Home Dialysis: A larger competitor with 18 employees and revenue of $1.2 million.

• Rinnovare Home Dialysis: Employs seven individuals and reports revenue of $1.1 million.