Medtronic and Abbott join forces to develop new diabetes tech
Medtronic and Abbott, two of the world’s largest healthcare technology companies, have launched a new partnership focused on improving care for patients with type 1 and type 2 diabetes.
The two companies, typically seen as rivals in the competitive diabetes care landscape, are joining forces on a new continuous glucose monitor (CGM) that will use Abbott’s own FreeStyle Libre sensors and work exclusively with Medtronic’s smart insulin delivery systems and software. The partnership covers both automated insulin delivery (AID) and multiple daily injection (MDI) systems, and the final products will be sold exclusively by Medtronic. The groups hope to improve access to CGM devices around the world, providing an essential resource for patients with both type 1 and type 2 diabetes.
Financial terms of this new deal have not been made public.
“Our partnership with Abbott allows us to expand access to our advanced automated insulin delivery and Smart MDI systems that deliver best-in-class outcomes with the most widely used CGM in the world,” Que Dallara, executive vice president and president of Medtronic’s diabetes division, said in a statement.
“This partnership pairs two global leaders in glucose sensing technology and insulin delivery,” Jared Watkin, executive vice president of Abbott's diabetes care business, said in a separate statement. “Libre technology has set the standard for accurate, accessible, easy-to-use and reliable continuous glucose monitoring. Connecting this CGM built for Medtronic's advanced insulin delivery systems and algorithms makes it easier for people to spend less time thinking about their diabetes and more time living.”
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.