Medtronic, Inc. Acquires New Diabetes Technology

Medtronic, Inc. has purchased substantially all glucose monitoring assets from PreciSense A/S, a Denmark-based development company focused on continuous glucose monitoring (CGM) technology. Specific terms of the acquisition were not disclosed.

“This strategic acquisition is an effort to expand Medtronic’s already robust continuous glucose monitoring pipeline, and to develop a new CGM platform to aid development of our ‘closed-loop’ system,” said Diabetes business unit president and senior vice president at Medtronic, Chris O’Connell. “This potentially disruptive technology could significantly broaden the use of CGM, and help improve diabetes care for more patients.”

The announcement was made during a web-cast presentation delivered by O’Connell on the state of Medtronic’s Diabetes business unit and its strategic plan. O’Connell also discussed the significant increase in research and development spending in the Diabetes business, and he gave an update on the business unit’s next generation insulin pumps, Personal CGM and Professional CGM, diabetes management software, and closed-loop product platforms.

CGM is one of the most significant advances in diabetes management technology because it shows people their changing glucose levels in real-time. Medtronic has the only diabetes management system that integrates the power of CGM with insulin pump therapy, the MiniMed Paradigm® REAL-Time Continuous Glucose Monitoring System. This device allows diabetes patients to better deliver insulin and monitor their glucose levels. With trend graphs, directional arrows and alarms, the device can also alert patients to dangerous high and low glucose values and allow them to take preemptive action to better manage their diabetes.

A closed-loop system, sometimes referred to as an “artificial pancreas,” mimics the insulin delivery of a normal pancreas using technology that automatically responds to and treats glucose fluctuations in patients with diabetes. Using advanced mathematical algorithms, Medtronic’s closed-loop system is being designed to continuously monitor glucose levels and automatically adjust insulin delivery in patients.

About PreciSense A/S PreciSense A/S, headquartered in Horsholm, Denmark, is a development company focusing on minimally invasive glucose monitoring technologies. PreciSense is financed by Omega Funds, Sunstone Capital and Scandinavian Life Science Ventures. Techgen International Ltd (London) were advisers to PreciSense A/S on the transaction.

About the Diabetes Business at Medtronic The Diabetes business at Medtronic (www.medtronicdiabetes.com) is the world leader in advanced diabetes management solutions, including integrated diabetes management systems, insulin pump therapy, continuous glucose monitoring systems and therapy management software.

About Medtronic Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology, alleviating pain, restoring health and extending life for millions of people around the world.