Healthcare Industry News: LifeScan
News Release - August 21, 2007
Medtronic Announces Alliance with LifeScan to Bring Leading Blood Glucose Meter to Its Diabetes Patients in United StatesAlliance Will Also Educate People about the Importance of Insulin Pump Therapy and Proactive Diabetes Management
MINNEAPOLIS--(HSMN NewsFeed)--Medtronic, Inc. (NYSE:MDT ) today announced an exclusive United States agreement with LifeScan, Inc., a Johnson & Johnson (NYSE:JNJ ) company, to distribute and co-market new blood glucose meters to be developed by LifeScan for Medtronic Diabetes patients. The new meters will be built using the OneTouch platform and will wirelessly transmit blood glucose test results to MiniMed Paradigm® insulin pumps and the Guardian® REAL-Time continuous glucose monitoring (CGM) system. The initial meter offering will be available to Medtronic's U.S. patients early next calendar year, with planned meter enhancements to be introduced during the terms of the agreement.
"This alliance allows us to provide our patients with the best tools available for managing diabetes," says Chris O'Connell, president of the Diabetes business at Medtronic. "Together with LifeScan, we will work to educate people about the benefits of insulin pump therapy and proactive diabetes management for improving health and extending life."
Data transmitted from the new LifeScan meter can be viewed via Medtronic's proprietary CareLink(TM) Therapy Management Software for Diabetes, the only software that integrates meter, logbook, insulin pump and continuous glucose monitoring information to help patients and physicians more easily assess and manage diabetes.
As part of the agreement, the two companies will work together to promote awareness of insulin pump therapy, the growth of the insulin pump market and proactive strategies for diabetes management.
LifeScan's new meter will replace the Paradigm Link® blood glucose monitor, which is being discontinued by Becton Dickinson. Medtronic will continue to include the Paradigm Link monitor with its insulin pumps, and make test strips available to current users, until the commercial introduction of the new meter next year. The company anticipates no interruption in service during the transition of its blood glucose meter products.
About The Diabetes Business at Medtronic
The Diabetes business at Medtronic (www.medtronicdiabetes.com) is the world leader in diabetes management. The company's products include insulin pump therapy, continuous glucose monitoring systems, related disposable products and diabetes management software.
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology, alleviating pain, restoring health and extending life for millions of people around the world.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's Annual Report on Form 10-K for the year ended April 27, 2007. Actual results may differ materially from anticipated results.
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