Medtronic to Acquire EOFlow, a Manufacturer of Insulin Devices.

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  • Medtronic is set to acquire EOFlow, the manufacturer of wearable and disposable insulin delivery devices, to expand its ability to address the needs of more individuals with diabetes.
  • Medtronic plans to integrate EOFlow’s EOPatch device with its next-generation sensor and Meal Detection Technology algorithm, allowing for greater patient choice and driving further innovation for those who want to use technology to make living with diabetes easier.
  • The EOPatch device is authorised for marketing in Europe, South Korea, Indonesia, and the United Arab Emirates, with a compatible smartphone application for monitoring and control. The acquisition will allow Medtronic to expand its offerings and participate in the patch pump market.

Medtronic, one of the world’s leading medical technology companies, has recently announced its acquisition of EOFlow, a South Korean insulin device manufacturer. The deal is expected to close in the first half of 2022, subject to regulatory approval.

EOFlow is known for developing wearable insulin delivery devices that are compact, portable, and easy to use. Their flagship product, the EOPatch, allows individuals with diabetes to administer insulin discreetly and conveniently, without the need for frequent injections or bulky devices. The device works by using microneedles to deliver insulin through the skin, eliminating the need for traditional syringes.

By acquiring EOFlow, Medtronic aims to expand its portfolio of diabetes management solutions and offer more innovative options to its customers. The acquisition is part of Medtronic’s strategy to advance its leadership position in the insulin delivery market, which is projected to grow significantly in the coming years.

Commenting on the acquisition, Hooman Hakami, executive vice president and president of the Diabetes Group at Medtronic, said: “EOFlow’s expertise in insulin delivery technology complements our extensive portfolio of products, services, and solutions for people living with diabetes. We are excited to welcome EOFlow to the Medtronic family and collaborate to bring innovative solutions to the market.”

EOFlow CEO Jae Young Bang also expressed his enthusiasm for the partnership: “We are excited to join forces with Medtronic and advance our mission of improving the lives of people with diabetes. Our shared commitment to patient-centered innovation will enable us to create even better solutions for people managing this chronic condition.”

Overall, the acquisition of EOFlow is a significant development for the diabetes management industry, as it brings together two leading companies with a shared mission to improve the lives of individuals with diabetes.

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