Medtronic Builds Toward Integrated Care With A String Of Diabetes Deals
This article was originally published in The Gray Sheet
Medtronic inking four diabetes deals in about a month's time is no coincidence. The company wants to transform itself from a device maker that sells mostly to type 1 diabetics, into an integrated-care company that serves the broader diabetes community, and it does not have all the capabilities it needs to accomplish that feat in house, explains Hooman Hakami, who heads Medtronic's diabetes unit.
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The device-maker will be on the hook to provide rebates to the health insurer if its self-adjusting insulin pumps don't maintain patients in appropriate glucose ranges, under a newly inked agreement. Medtronic already has a similar arrangement with UnitedHealthcare.
A new partnership between Medtronic and Qualcomm will focus on new wireless continuous glucose monitor designs targeting type 2 diabetics. The deal further broadens Qualcomm's reach into the medical device industry.
Insulin pump-maker Insulet, continuous glucose monitoring firm DexCom, and Medtronic provided updates on their diabetes device efforts at this year's JP Morgan Healthcare Conference in San Francisco.