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#1
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http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090325005242&newsLan g=en
March 25, 2009 09:01 AM Eastern Daylight Time Smiths Medical Announces Intent to Stop Selling Deltec Cozmo? Insulin Pumps Decision Represents First Step in Orderly Exit from the Diabetes Business Over Time ST. PAUL, Minn.--(BUSINESS WIRE)--Smiths Medical announced today its intent to stop selling the Deltec Cozmo? insulin pump, and manage an orderly, carefully controlled exit from the diabetes business over time. ?The continued health of the thousands of people who use the Deltec Cozmo? insulin pump is our primary concern, and they should be reassured that their pump remains an excellent choice to help them manage their diabetes,? said Srini Seshadri, president of Smiths Medical. ?Our customers also should be reassured that Smiths Medical will meet all of its warranty obligations; provide customer and clinical support for the lifetime of the warranty of all pumps; ensure that Deltec Cozmo? insulin pump cartridges and Cleo? and Comfort? infusion sets are available; and make any necessary transitions as simple as possible.? For people with a Deltec Cozmo? insulin pump, today?s announcement means two important things:
Why Smiths Medical Made This Decision Smiths Medical considered many possible options to create a long-term, sustainable diabetes business. However, after reviewing these options, it was decided that the best course of action is to exit the diabetes market. In addition, as its only direct-to-consumer enterprise, the Diabetes business has little synergy with the rest of Smiths Medical?s businesses. For this reason, Diabetes requires its own extensive sales, marketing, reimbursement, insurance and clinical support infrastructure in the United States, which has resulted in it becoming uneconomical as sales and profits for the business have decreased. Without a strong, profitable Diabetes business in the United States, the world's largest medical market, it would also be impossible to sustain the business internationally. Finally, dramatic changes have taken place in the diabetes market during the past three years, including:
What This Decision Means for Diabetes Employees The decision to stop selling pumps means that 51 people working in the Diabetes business will be affected immediately, primarily in field sales, marketing and, to a lesser extent, clinical services, customer support and manufacturing. Smiths Medical will retain enough staff to ensure that it meets its commitment to customers for the remaining warranty period on pumps already sold. The company will continue to offer a pump recertification service for existing pumps that may need to be replaced during their warranty period. About Smiths Medical Smiths Medical is a leading supplier of high-quality medical devices and products for global markets. It designs and manufactures specialist medical devices in three key areas: Safety Devices, Vital Care and Medication Delivery. Smiths Medical's customers include hospitals, alternate care such as home care, and other healthcare providers worldwide. Smiths Medical is part of the global technology business Smiths Group, a world leader in the practical application of advanced technologies. Smiths is a global technology company listed on the London Stock Exchange. For further information, visit www.smiths-medical.com. Contacts Smiths Medical Bob Hanvik, +1.651.628.7613 Mobile: +1.612.812.2433 Permalink: http://www.businesswire.com/news/goo...90325005242/en
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Ellen @CureT1Diabetes KidsRPumping- Thank you Please support a cure for type 1 diabetes! Children With Diabetes Foundation Diabetes Research Institute
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#2
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Holy C@$#%$!!
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Carol Eric, 12 yrs old, diag 3/2000 at 3 years old , pumping 2001,Minimed 508 2001-2004, Cozmo 2004-2009, Animas Black Ping May 09-Novolog , Insets, Quicksets, Navigator 8/08-5/09, Dexcom Plus 5/09![]() Ethan , 10 yrs old, diag 9/2000 at 10 months old , pumping 2001,Minimed 508 2001,Cozmo 2004, Animas Silver Ping May 2009-Novolog ,Insets, Navigator 9/08-5/09, Dexcom Plus 5/09(Dex on break),Navigator 11/09-
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#3
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WTH????? WE JUST replaced our Cozmo pump last month because the warranty was up!!!!!!!!!!!!!!! Haven't gotten a bill yet, and you bet I'm going to be calling them when I get the stupid bill. GRRRRRRRRR......that would have been REALLY nice to know a month ago. Though it probably wouldn't have changed our decision to choose the Navigator.
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Brenda, Dx'd type 1 6/07 at age 30, honeymooning on Lantus, just starting to use Novolog with certain meals, and also dx'd celiac March '07. Mom to Carson, age 9, dx'd at 9 months. Pumping with Cozmo since 1/05. Navigating since 3/5/09 And Mom to Henry, age 6, training for the US 2020 Mens Gymnastic Team ![]() |
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#4
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Thanks for posting the update. It is good to know!
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Michael, type1 D, 7 Matt, non-D, 5 Dan, non-D, 3 Steve, non-D 1 Dx 12/07 Dexcom cgms 08/08 Omnipod 09/08 "Laughter is the best medicine - unless you have diabetes, then insulin goes pretty high on the list."
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#5
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WOW! THat is mega!
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Becky ~ Behind every great woman is a lot of caffeine! Mom to Coco ~ 11 yrs old, diagnosed 1/5/2006 at 7 1/2 ~ Pumping Since July 07 ~ Pink Minimed and Jess ~ 13 diagnosed with chronic eye rolling syndrome Type 1 Diabetes - a disease you can treat but never control |
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#6
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Wow, major news there. Makes me glad I didn't decide on the Cozmo for Molly's pump. All of that research would have been for nothing!
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Mom to 4 kiddos: Cory 17 nonD Kristen 14 nonD Hannah 12 nonD Molly 9 D dx'd May 13, 2008 MM 722 pump Novolog Quicket infusion sets current a1c 7.8 |
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#7
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Quote:
For everyone this impacts, more details here: http://www.delteccozmoupdate.com/
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Ellen @CureT1Diabetes KidsRPumping- Thank you Please support a cure for type 1 diabetes! Children With Diabetes Foundation Diabetes Research Institute
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#8
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Oh He!!.....
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#9
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Bleeping Economy
I am sorry Cozmo users.
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Shelley Proud Mom to Adin 4 years old - dx'd @ 16 months - MDI now/Omnipod experience This is Adin |
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#10
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I bet another company will buy out this company's business, and may just continue to sell the pump.
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