Medtronic Acquires Diabeter, Innovative Diabetes Care Provider
03 April 2015 - 12:00AM
DUBLIN - April 2, 2015 -
Medtronic plc (NYSE:MDT) today announced its acquisition of
Diabeter, an innovative, independent Netherlands-based diabetes
clinic and research center dedicated to providing comprehensive and
individualized care for children and young adults with diabetes.
Together, Medtronic and Diabeter will further develop and expand
Diabeter's model of care so more people with diabetes can enjoy
greater freedom and better health. This acquisition combines the
strengths of Medtronic and Diabeter to create a strong local and
international platform for improving outcomes for people with
diabetes. Terms of the acquisition were not disclosed.
"The Diabeter acquisition is a milestone for
Medtronic and for the Diabetes Group," said Hooman Hakami,
executive vice president and president of the Diabetes Group at
Medtronic. "This acquisition marks Medtronic's first entry
into a diabetes integrated care model approach and signifies that
Medtronic Diabetes is more than pumps and sensors - we are a
holistic diabetes management company focused on making a real
difference in outcomes and cost."
As one of the largest independent diabetes
specialist centers for type 1 pediatrics and young adults in
Europe, Diabeter currently manages over 1,500 patients and is
recognized as a top center for diabetes care and clinical research.
The team of 36 people at 4 locations practices personalized
medicine making use of specially developed technologies, such as
the Diabeter Dashboard, an electronic system that links patient and
physician to encourage self-management with diabetes care team
support. Internal Diabeter data shows that their patients have
achieved significant reductions in HbA1c levels, a key measurement
used to assess blood glucose control. Near normal blood glucose
control has been show to reduce long-term complications of diabetes
and can reduce healthcare costs over the long term.
"Diabeter has been pioneering this type of
integrated care in the Netherlands, and we believe this approach
can be applied more broadly to serve more patients, in more places
around the world," said Henk Veeze, M.D., Ph.D., senior
international medical director, Diabeter. "We have developed a
unique system with improved clinical outcomes, combining
outstanding clinical care with devices and information
technology."
Diabeter will operate as part of the Diabetes
Services & Solutions business unit, which focuses on offering
people with diabetes access to therapy, insights and services that
will contribute to better clinical and economic value today and
tomorrow. Diabeter will maintain its professional
autonomy and independence in clinical decision making, therapy and
brand choice and will utilize proven processes and principles to
ensure that clinical decision-making remains in the hands of
physicians. The transaction is expected to meet Medtronic's
long-term financial metrics for acquisitions, and the annualized
earnings impact of this acquisition is not expected to be
material.
"Diabeter and Medtronic share the same goal of
transforming diabetes care for greater freedom and better health.
By joining forces, Diabeter and Medtronic can further advance the
development of technology and integrated care models that improve
clinical and economical outcomes for people with diabetes and for
the healthcare system," said Annette Brüls, vice president and
general manager of the Diabetes Service and Solutions business at
Medtronic. "We aim to accelerate access to this new model of
diabetes care in the Netherlands and beyond."
This acquisition supports Medtronic's continued
entry into integrated health solutions as part of the company's
economic value strategy. It marks Medtronic's first entry
into a diabetes integrated care model approach and is consistent
with its move into new business models where its technologies and
expertise can make a difference in patient care. Medtronic has been
partnering on similar integrated care and hospital efficiency
models in other parts of the world - specifically in heart failure
and cardiology. Medtronic's Cardiocom business manages
patients with heart failure and diabetes, among other chronic
conditions, in the United States, in a model similar to the one
being envisioned with Diabeter. Medtronic is also partnering
with a number of hospital systems in Europe whereby Medtronic
manages the operational aspects of the hospitals' cardiology
catheterization labs. These new business models and
partnerships have resulted in improved patient outcomes and
improved health care savings.
About the Diabetes Group at
Medtronic (www.medtronicdiabetes.com)
Medtronic is working together with the global community to change
the way people manage diabetes. The company aims to transform
diabetes care by expanding access, integrating care and improving
outcomes, so people living with diabetes can enjoy greater freedom
and better health.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is the global leader in medical technology - alleviating
pain, restoring health and extending life for millions of people
around the world.
Any forward-looking statements
are subject to risks and uncertainties such as those described in
Medtronic's periodic reports on file with the Securities and
Exchange Commission. Actual results may differ materially from
anticipated results.
-end-
Contacts:
Amanda Sheldon
Public Relations
+1-818-576-4826
Jeff Warren
Investor Relations
+1-763-505-2696
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
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