EOFlow, a maker of wearable insulin patches, is acquired by Medtronic in a move that revolutionizes diabetes management.

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Tech News Summary:

  • Medtronic plans to acquire EOFlow Co. Ltd., maker of the EOPatch® device.
  • EOFlow’s chamberless insulin delivery device is set to expand Medtronic’s ability to care for more people living with diabetes around the world.
  • The acquisition is expected to close in the second half of calendar year 2023 subject to regulatory clearances.

Medtronic, a global medical technology company that specializes in diabetes management and other medical devices, announced its acquisition of EOFlow, a Korean company that develops wearable insulin patch pumps. The deal is expected to revolutionize diabetes management by introducing improved patient experience and convenience with the use of wearable insulin patches.

The acquisition marks a significant milestone in Medtronic’s goal of advancing innovation in diabetes management, a condition that affects over 462 million people worldwide. EOFlow’s wearable insulin patch is designed to offer a discreet, needle-free, and easy-to-use alternative to traditional insulin injections, benefiting patients with type 1 and type 2 diabetes.

According to Sean Salmon, Executive Vice President and President of the Diabetes Group at Medtronic, “We are excited to announce this acquisition, which reinforces Medtronic’s role as a global leader in diabetes management and underscores our commitment to broadening access to insulin pump therapy for more people living with diabetes worldwide.” He added, “We are confident that EOFlow’s innovative technology will integrate well with our existing insulin pump therapy products and help us expand our offerings to meet the diverse needs of our patients.”

EOFlow’s wearable insulin patch is expected to complement Medtronic’s existing diabetes management portfolio, which includes insulin pumps, continuous glucose monitoring systems, and other product offerings. The patch pumps are already available in South Korea, with CE Mark certification in Europe, and are expected to receive regulatory clearance in the United States soon.

The acquisition of EOFlow is also expected to be a game-changer for healthcare providers, making it easier for them to prescribe and manage diabetes treatments. Patients would no longer require needles, syringes, or infusion tubing, resulting in fewer complications and improved quality of life.

In conclusion, the acquisition of EOFlow by Medtronic is expected to transform diabetes management and provide patients with a more convenient, discreet, and comfortable option for insulin administration. This development marks another significant step in Medtronic’s commitment to advancing innovation in diabetes care and making insulin pump therapy accessible to more people living with diabetes worldwide.

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