Business
Tandem Diabetes Care to Acquire Insulin Patch Pump Developer, AMF Medical
Acquisition Expands Addressable Market Opportunity and Complements Family of Insulin Delivery Offerings Conference Call Tuesday, December 13, 2022 at 8:00am
About this update from Tandem Diabetes Care, Inc.
[{"type":"text","content":"\nAcquisition Expands Addressable Market Opportunity and Complements Family of Insulin Delivery Offerings\n\nConference Call Tuesday, December 13, 2022 at 8:00am ET\n\n SAN DIEGO--(BUSINESS WIRE)--\nTandem Diabetes Care, Inc. (NASDAQ:TNDM), a global insulin delivery and diabetes technology company, today announced that it has entered into a definitive agreement to acquire AMF Medical SA, the privately held Swiss developer of the Sigi™ Patch Pump. The Sigi Patch Pump is under development and not commercially available. It is designed to be an ergonomic, rechargeable patch pump that reduces the burden of managing diabetes through its use of pre-filled insulin cartridges and its compatibility with automated insulin delivery technology.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221213005314/en/The Sigi™ Patch Pump by AMF Medical. Product is under development and not commercially available. (Photo: Business Wire)\n“This acquisition supports our commitment to drive growth through innovation, as AMF Medical has novel technology and a shared passion for creating easy-to-use solutions to improve the lives of people with diabetes,” said John Sheridan, Tandem Diabetes Care president and chief executive officer. “Our portfolio approach to diabetes care is designed to bring the benefits of advanced insulin pump therapy to more people worldwide, utilize our expertise in automated insulin delivery technology and data management, and leverage our commercial infrastructure to create shareholder value.”\n\nStrategic Highlights\n\nAMF Medical’s proprietary and disruptive insulin delivery solution is expected to:\n\n\nExpand Tandem’s type 1 and type 2 addressable market opportunities by adding a pump designed for a segment of people living with diabetes not served by Tandem today\n\n\nAccelerate time-to-market for a patch pump in Tandem’s portfolio of technology offerings\n\n\nFurther Tandem’s sustainability objectives by offering an additional pump that minimizes the generation of electronic and battery waste\n\n\nProvide a pathway for channel expansion and increased customer access\n\n\nTerms of the Agreement\n\nTandem Diabetes Care will acquire AMF Medical under the following financial terms of the agreement:\n\n\nA previous strategic investment of Swiss Francs (“CHF”) 8.0 milli...