Medtronic Cuts Jobs, Announces Partnership with Bayer

Medtronic has let go of hundreds of employees in its diabetes unit, according to diabetes industry analyst David Kliff on his blog Diabetic Investor (registration required). The company also has recently announced that it will expand its partnership with Bayer HealthCare. The international alliance between the two companies will now include the United States. The two firms will work together to develop novel technologies for diabetes management. The companies initially began collaborating in 2007, using Medtronic’s insulin-pump technology and Bayer’s blood-glucose meters and strip technology. According to a press release issued by Medtronic, the two companies will work together to develop technologies that offer increased convenience and ease of use.

In a similar development, Medtronic recently announced a parnership with Eli Lilly to develop a treatment for Parkinson’s.

—Brian Buntz