Medtronic makes ‘strategic’ acquisition in diabetes market

Wednesday, August 12, 2020

DUBLIN and SAN DIEGO – Medtronic plans to acquire Companion Medical, the manufacturer of InPen, a smart insulin pen system paired with an integrated diabetes management app. The InPen, which has been cleared by the U.S. Food and Drug Administration, expands Medtronic’s ability to serve people where they are in their diabetes journey and offer them a unique and expansive ecosystem of support, the company says. “This acquisition is an ideal strategic fit for Medtronic, as we further simplify diabetes management and improve outcomes by optimizing dosing decisions for the large number of people using multiple daily injection,” said Sean Salmon, executive vice president and president of the Diabetes Group at Medtronic. “We look forward to building upon the success of the InPen by combining it with our intelligent algorithms to deliver proactive dosing advice personalized to each individual.” Medtronic will also look to expand the availability of the InPen globally. The acquisition of Companion Medical, which is expected to close in one to two months, builds on previous strategic acquisitions, including Nutrino and Klue.