Healthcare Industry News: Insulet
News Release - August 10, 2006
Insulet Corporation Announces Agreement With Aetna U.S. HealthcareOmniPod(R) Insulin Management System Now A Covered Diabetes Management Option for Aetna Members
BEDFORD, Mass., Aug. 10 (HSMN NewsFeed) -- Insulet Corporation, developer and manufacturer of an innovative system for managing diabetes called the OmniPod® Insulin Management System, announced today that it has signed an agreement with Aetna U.S. Healthcare, one of the nation's leading diversified health care benefits companies. The agreement adds the OmniPod System to Aetna's network of covered products for diabetes management, and is effective now.
"This agreement with Aetna is a major milestone in Insulet's ongoing mission to improve the lives of people with diabetes," said Duane DeSisto, Insulet President and CEO. "It makes the OmniPod System -- and continuous subcutaneous insulin infusion therapy, which is considered one of the best therapies for insulin-dependent diabetes -- more accessible to Aetna members living with diabetes in the United States."
The OmniPod Insulin Management System brings together safe, reliable, continuous subcutaneous insulin delivery and blood glucose monitoring in an easy-to-use system with no tubing. The System consists of two parts: the handheld, wireless Personal Diabetes Manager (PDM), which programs the OmniPod with insulin delivery instructions and monitors its operation, and the compact, lightweight OmniPod, which is worn discreetly beneath clothing and delivers insulin through a small tube (called a cannula) that the device inserts automatically under the skin. The PDM contains a fully integrated FreeStyle® blood glucose meter and is very similar in materials, construction and appearance to a personal digital assistant.
Insulet received FDA clearance for the OmniPod System in January 2005 and manufactures the System from its Bedford, Massachusetts plant.
About Insulet Corporation
Insulet Corporation, located in Bedford, Massachusetts, is an innovative, privately held, diabetes management company dedicated to designing and developing products that provide superior treatment options and lifelong health benefits to people with diabetes. Insulet Corporation employees have extensive experience in the diabetes and medical device industries. Founded in 2000, the company seeks to improve the lives of people with diabetes -- and to break down the barriers to Continuous Subcutaneous Insulin Infusion (CSII) therapy -- through innovative design and technology, and through feedback from people with diabetes, physicians, and diabetes educators. (http://www.Insulet.com)
Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 28.3 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life, long-term care and disability plans, and medical management capabilities. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans and government-sponsored plans. (http://www.aetna.com)
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