Medtronic has purchased substantially all glucose monitoring assets from PreciSense, a Horsholm, Denmark-based development company focused on continuous glucose monitoring (CGM) technology. Terms of the acquisition were not disclosed.
This acquisition is an effort to expand Medtronic's CGM pipeline, and develop a new CGM platform to aid development of its ‘closed-loop' system, according to Medtronic's Diabetes Unit President and Senior Vice President Chris O'Connell.
According to the Minneapolis-based Medtronic, CGM is an advancement in diabetes management technology because it shows people their changing glucose levels in real-time. Medtronic has a diabetes management system that integrates CGM with insulin pump therapy, the MiniMed Paradigm Real-Time CGM system. Using algorithms, the company said a closed-loop system is being designed to continuously monitor glucose levels and automatically adjust insulin delivery in patients.