binmoosa
08-24-2007, 02:34 AM
Medtronic and Bayer Diabetes Care Announce Alliance
to Provide Blood Glucose Meter to Medtronic Patients Outside the United States
New Blood Glucose Meter to Provide Advanced Therapy Options for People with Diabetes Beginning in Canada and Europe
MINNEAPOLIS & TARRYTOWN, N.Y.--(BUSINESS WIRE)--Medtronic, Inc. (NYSE:MDT) and Bayer Diabetes Care, a division of Bayer HealthCare LLC and a member of the Bayer Group (NYSE:BAY), today announced an alliance to distribute and co-market a new blood glucose meter for Medtronic patients outside the United States beginning in Canada and Europe. The new meter, based on Bayer’s Contour® meter platform, will wirelessly transmit blood glucose test results directly to MiniMed Paradigm® insulin pumps and Guardian® REAL-Time continuous glucose monitoring (CGM) systems. Wireless communications make data entry easier and more convenient for patients.
As part of the agreement, Bayer Diabetes Care acquires exclusive rights to Medtronic’s proprietary wireless communications protocol in certain markets outside the United States. The new meter will initially be introduced in Canada and Germany, followed by a phase one rollout in Europe and in other countries as agreed upon by the companies. Details of the financial terms of the agreement are not being disclosed.
“Bayer’s strong presence in key global markets such as Canada, Europe, Latin America and Asia enables Medtronic to reach more diabetes patients with its advanced technologies,” said Sandra Peterson, president of Bayer Diabetes Care. “This alliance also supports our commitment to helping Medtronic customers maintain good health through frequent glucose testing.”
“Offering this new meter with our insulin pumps and real-time continuous glucose monitoring systems will improve quality of life and ease of use for many of our patients,” says Chris O’Connell, president of the Diabetes business at Medtronic. “Our new global alliance allows us to bring trusted, state-of-the-art solutions to Medtronic patients who strive for the best possible diabetes management.”
Medtronic currently markets the MiniMed Paradigm® REAL-Time Insulin Pump and Continuous Glucose Monitoring System – the world's first insulin pump with REAL-Time continuous glucose monitoring. Together with CareLink™ Therapy Management Software and wireless glucose meter communication, Medtronic offers patients an integrated solution for managing their diabetes.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070821006157&newsLang=en
to Provide Blood Glucose Meter to Medtronic Patients Outside the United States
New Blood Glucose Meter to Provide Advanced Therapy Options for People with Diabetes Beginning in Canada and Europe
MINNEAPOLIS & TARRYTOWN, N.Y.--(BUSINESS WIRE)--Medtronic, Inc. (NYSE:MDT) and Bayer Diabetes Care, a division of Bayer HealthCare LLC and a member of the Bayer Group (NYSE:BAY), today announced an alliance to distribute and co-market a new blood glucose meter for Medtronic patients outside the United States beginning in Canada and Europe. The new meter, based on Bayer’s Contour® meter platform, will wirelessly transmit blood glucose test results directly to MiniMed Paradigm® insulin pumps and Guardian® REAL-Time continuous glucose monitoring (CGM) systems. Wireless communications make data entry easier and more convenient for patients.
As part of the agreement, Bayer Diabetes Care acquires exclusive rights to Medtronic’s proprietary wireless communications protocol in certain markets outside the United States. The new meter will initially be introduced in Canada and Germany, followed by a phase one rollout in Europe and in other countries as agreed upon by the companies. Details of the financial terms of the agreement are not being disclosed.
“Bayer’s strong presence in key global markets such as Canada, Europe, Latin America and Asia enables Medtronic to reach more diabetes patients with its advanced technologies,” said Sandra Peterson, president of Bayer Diabetes Care. “This alliance also supports our commitment to helping Medtronic customers maintain good health through frequent glucose testing.”
“Offering this new meter with our insulin pumps and real-time continuous glucose monitoring systems will improve quality of life and ease of use for many of our patients,” says Chris O’Connell, president of the Diabetes business at Medtronic. “Our new global alliance allows us to bring trusted, state-of-the-art solutions to Medtronic patients who strive for the best possible diabetes management.”
Medtronic currently markets the MiniMed Paradigm® REAL-Time Insulin Pump and Continuous Glucose Monitoring System – the world's first insulin pump with REAL-Time continuous glucose monitoring. Together with CareLink™ Therapy Management Software and wireless glucose meter communication, Medtronic offers patients an integrated solution for managing their diabetes.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070821006157&newsLang=en