Abbott To Buy Bigfoot Biomedical

(RTTNews) - Abbott (ABT) Tuesday said it has agreed to buy Bigfoot Biomedical, a company that develops smart insulin management systems for people with diabetes.

Financial details of the deal were not disclosed. The transaction is expected to close in the third quarter of 2023.

Abbott and Bigfoot have worked together on connected diabetes solutions since 2017. Bigfoot developed Bigfoot Unity, a smart insulin management system that features the first and only FDA-cleared connected insulin pen caps that use integrated continuous glucose monitoring (iCGM) data along with healthcare provider instructions to provide insulin dosing recommendations.

"The acquisition of Bigfoot Biomedical will combine two leaders in different aspects of diabetes care: continuous glucose monitoring and insulin dosing support," said Jared Watkin, senior vice president of Abbott's Diabetes Care business. "Bringing our companies together will allow us to further develop connected solutions for making diabetes management even more personal and precise."