Medtronic is acquiring, Nutrino, a company that uses artificial intelligence for nutrition-related services. The medtech giant will pick up the Tel Aviv, Israel based company for an undisclosed amount. The acquisition is expected to close in Medtronic’s third fiscal quarter ending in January 25, 2019.
By bringing Nutrino in the fold, Medtronic can help strengthen its presence in the diabetes management market.
And it’s not like the two companies are strangers. Nutrino played a role in recent U.S. product introductions from Medtronic, including the updated iPro2 myLog app used with professional CGM solutions as well as the Sugar.IQ(TM) diabetes assistant app used with the Guardian Connect smart CGM system.
Recently, Dublin-based Medtronic updated its iPro2 myLog diabetes app with Nutrino’s FoodPrint Report.
Medtronic updated its iPro2 myLog app with FoodPrint report. The iPro2 myLog app is designed to give clinics a simple way to import patients' logged data during their professional iPro2 continuous glucose monitoring (CGM) evaluation.
With the addition of Nutrino's FoodPrint report, patients' meals are graded based on their body's unique glucose reaction, making it easy for them to understand the link between meals and glucose variability.
"Bringing Nutrino and their nutrition-related expertise into our organization will give us a substantial differentiator in the diabetes industry and accelerate our progress to help people with diabetes live with greater freedom and better health," Hooman Hakami, executive vice president and president of the Diabetes Group at Medtronic said in a release. "The Nutrino team has been an outstanding partner over the past few years.”
Medtronic’s acquisition of Nutrino supports the idea that medtech companies will reach across the aisles, outside of the comfort zone to get a stronger handle on AI-based solutions. Larger firms taking part in this AI Renaissance will probably forego or limit R&D into the space and go directly after collaborations or acquisitions.