Insulet acquires technology from Calif. diabetes firm for $25M
Photo | Courtesy of Insulet
Insulet's headquarters in Acton
Acton medical device firm Insulet has acquired $25 million of diabetes pump technology from California-based Bigfoot Biomedical, nearly doubling Insulet’s intellectual property.
The acquisition includes patents related to Bigfoot’s pump-based automated insulin delivery technologies, according to a Monday press release from Insulet and Bigfoot. Insulet specializes in diabetes care through its insulin delivery device called the Omnipod, which does not have tubes and prevents users from needing to administer multiple daily injections.
“As we develop innovative products for people with insulin-requiring diabetes, we continue to invest heavily in pump and automated insulin delivery technologies,” Eric Benjamin, Insulet’s executive vice president of innovation, strategy, and digital products, said in the Monday press release. “Bigfoot has made valuable contributions to the industry through many years of research and development in these fields and we are thrilled to acquire these assets.”
This acquisition is intended to help expand the options Insulet provides for diabetes treatment. The company in August announced U.S. Food and Drug Administration approval of its tubeless pump for children two years and older.
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