The transaction expands Abbott's presence in diabetes care
Bigfoot Biomedical is engaged in the development of smart insulin management systems. (Credit: Peter Stanic from Pixabay)
Abbott 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.
Source: Company Press Release