Abbott has successfully acquired Bigfoot Biomedical, a company specializing in smart insulin management systems for individuals with diabetes. This acquisition complements Abbott’s existing leadership in diabetes care, which includes its FreeStyle Libre® continuous glucose monitoring technology. The move reinforces Abbott’s commitment to developing personalized and precise connected solutions for diabetes management, although specific financial details of the deal were not disclosed.
Abbott (NYSE: ABT) today announced it has completed the acquisition of Bigfoot Biomedical, a leader in developing smart insulin management systems for people with diabetes.
The transaction expands Abbott’s presence in diabetes care, building on its world-leading FreeStyle Libre® portfolio of continuous glucose monitoring technology and furthering the company’s efforts to develop connected solutions for making diabetes management even more personal and precise.
Pursuant to the terms of the merger agreement, upon completion of the acquisition, Bigfoot became a wholly owned subsidiary of Abbott. Financial terms were not disclosed.
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Source: BioSpace
