Tandem Closes Insulin Patch DealTandem Closes Insulin Patch Deal
The San Diego, CA-based company completed its acquisition of AMF Medical about a month after it announced the deal.
January 23, 2023
Tandem Diabetes has closed a deal that has the potential to significantly improve its diabetes management offerings. The San Diego, CA-based company is acquiring AMF Medical, about a month after it initially announced the deal.
AMF Medical is developing the Sigi Patch Pump, a rechargeable device that reduces the burden of managing diabetes through its use of pre-filled insulin cartridges. Sisi Patch is under development and isn’t commercially available.
“AMF Medical's compelling technology aligns well with our strategic vision to include a patch pump in Tandem’s portfolio of differentiated offerings,” said John Sheridan, Tandem Diabetes Care President and CEO. “In addition to this innovative technology, the talented AMF team joining our Tandem family shares our commitment to simplify diabetes management and brings decades of experience from the diabetes device, life sciences, and watch-making industries.”
Tandem is starting off 2023 the same way it did with 2022 - by ushering in major developments with the potential for a positive impact.
Last year, MD+DI reported that Tandem Diabetes Care received FDA clearance for bolus insulin dosing on the t:slim X2 insulin pump using the t:connect mobile app. This milestone was the first FDA-cleared smartphone application capable of initiating insulin delivery on both iOS and Android operating systems. In August — the first month following its commercial release — San Diego-based Tandem Diabetes Care announced that t:slim X2 insulin pump users had delivered more than 1 million insulin boluses using the t:connect app feature on their personal mobile devices.
“With pump penetration just over 35% in the U.S. and typically less than 20% in countries we serve outside the United States, we remain focused on the large market opportunities available to us and further delivering on our goal to bring the benefits of our technology to the diabetes community,” Sheridan said according to a Seeking Alpha transcript of an earnings call.
The accomplishments were part of the Diabetes Tech’s key advancements in 2022.
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