Smiths Medical exits diabetes biz

Thursday, April 30, 2009

ST. PAUL, Minn.--Medical device manufacturer Smiths Medical plans to discontinue its insulin pump and exit the diabetes market completely, the company announced March 25. The diabetes market has “little synergy with the rest of Smiths Medical’s businesses,” according to a press release. The Deltec Cozmo insulin pump was the company’s only direct-to-consumer product and required separate staff. The company will lay off 51 employees. The company’s exit from the market won’t be immediate, because the company will fulfill warranty obligations to current pump users, a process that it expects to take about four years.