Blackstone Invests $337M In Medtronic’s Diabetes R&D
Medtronic plans to rapidly expand its diabetes technology research and development with $337m in new funding from global investment firm Blackstone Life Sciences.
You may also be interested in...
Medtronic Reviews Its Portfolio, Driving Speculation It May Sell Diabetes Unit
During its recent quarterly earnings call, Medtronic CEO Geoff Martha reiterated that the company expects to announce changes over the next year that will help it drive growth and shareholder value. Analysts suspect Medtronic’s struggling diabetes business is probably the top candidate for a sale.
Market Intel: Rivalry Among Insulin Pump Makers Heats Up With Expected Launches In 2021
The global insulin pump market is expected to see double-digit growth, reaching $5.1bn in 2024, with product launches expected by Medtronic, Insulet, Tandem and smaller players in 2021.
Finance Watch: Poseida, Nkarta And Inventiva Are July’s First Biopharma IPOs
Poseida, Nkarta and Inventiva raised $224m, $252m and $107.7m, respectively. Also, Forbion raised €185m ($208m) of a new €250m fund and Blackstone closed the last $1.2bn of its $4.6bn fund for public and private company deals, and Ascendis led recent follow-ons with a $569.2m offering.