US-based medical device company Abbott has agreed to acquire Bigfoot Biomedical, a medical technology start-up focused on diabetes solutions, for an undisclosed sum.
The agreement builds on the existing collaboration between Abbott and Bigfoot, focused on works related to connected diabetes solutions, initiated in 2017.
Bigfoot is a digital health company engaged in developing smart insulin management systems for people with Type 1 and Type 2 diabetes.
The company developed Bigfoot Unity, a smart insulin management system, which features FDA-approved connected insulin pen caps that leverage integrated continuous glucose monitoring (iCGM) data, along with healthcare provider instructions to provide insulin dosing recommendations.
It displays the dosing recommendations on the pen cap’s digital screen to inform patients about the amount of insulin to be administered.
The acquisition is expected to be completed in the third quarter of this year, subject to customary closing conditions.
Abbott’s diabetes care business senior vice president Jared Watkin said: “The acquisition of Bigfoot Biomedical will combine two leaders in different aspects of diabetes care: continuous glucose monitoring and insulin dosing support.
“Bringing our companies together will allow us to further develop connected solutions for making diabetes management even more personal and precise.”
The Bigfoot Unity system is compatible with Abbott’s FreeStyle Libre and FreeStyle Libre 2 sensors, and all brands of basal and bolus disposable insulin pens offered in the US.
The system comes with a smartphone app connected to a cloud-based online portal, which helps healthcare providers support their patients, including through remote care.
Bigfoot Biomedical CEO Jeffrey Brewer said: “Bigfoot Biomedical is the first company to design, develop and deliver a novel insulin delivery solution built around continuous glucose monitoring.
“We selected Abbott as our CGM partner because both companies share a vision to provide simple, affordable and easy-to-use tools for people with diabetes.
“We look forward to continuing to innovate together and to the scale Abbott can provide, bringing Bigfoot Unity to as many people who may benefit.”
