Medtronic to Acquire EOFlow
Dublin-based Medtronic plc, a global leader in healthcare technology, announced it has entered into a set of definitive agreements to acquire EOFlow Co. Ltd, a South Korean manufacturer of disposable insulin delivery devices.
EOFlow is the innovator and manufacturer of EOPatch®, a tubeless, wearable, and fully disposable insulin delivery device. This acquisition will merge with Medtronic’s Meal Detection Technology™ algorithm and next-gen continuous glucose monitor (CGM), expanding their ability to address the needs of individuals with diabetes.
Medtronic has been committed to improving diabetes management and care options for more than 30 years. The company is working to simplify diabetes management, improving the delivery of medication regardless of the individual’s status in treatment or their preference for delivery method. This acquisition will support Medtronic in their bid to expand their offerings to participate in the patch pump market.
The EOPatch® device utilises proprietary microfluidic technology to deliver insulin with high accuracy and reliability while minimising the risk of insulin occlusion. The technology is currently authorise for marketing in Europe, South Korea, Indonesia, and the United Arab Emirates with a compatible smartphone application to put control in the patient’s hands.
Upon closing of the transaction, Medtronic will work to integrate this device with their own MiniMed™ 780G system. This will provide Medtronic customers with a broad range of solutions across smart multiple daily injections, tethered insulin pumps, and wearable insulin patch technologies leveraging clinically advanced and proven algorithms.
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