PARTNERSHIPS, FUNDING

OnSite Waste Technologies of Newport Beach said Oct. 20 it’s completed strategic partnerships with two medical device suppliers, Henry Schein and Direct Supply, ahead of its effort to raise $8 million in a Series B round, expected to take place in early 2022.

“These are two big players in the industry that have said, ‘We see value in this, and we want our customers to have access to it,’” Brad Barnes, founder and CEO of Onsite, told the Business Journal.

“For us as an emerging small company, this connection with big distribution partners is where we see the longer growth coming.”

OnSite aims to transform the way medical waste is processed at medical and dental practices, the company said.

Its TE-5000 is a desktop-sized unit that treats medical waste, like syringes, with heat, converting it into sterile garbage that can be placed in regular trash. The company said it’s “greener, cheaper and safer” than haul-away services.

OnSite was founded in 2016; it’s taken nearly five years to raise funds, earn regulatory approval for its product and bring it to market, Barnes said, adding that OnSite has previously completed two Series A rounds: one for $3 million in 2018 and another for $3.5 million in 2019 led by Cove Fund II.