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Smiths Medical Announces Intent to Stop Selling Deltec Cozmo(R) Insulin Pumps

Discussion in 'General Discussion' started by Ellen, Mar 25, 2009.

  1. Ellen

    Ellen Senior Member

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    http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090325005242&newsLang=en
    [​IMG]
    March 25, 2009 09:01 AM Eastern Daylight Time [​IMG]
    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:
    • When the pump approaches the end of its warranty period, customers should consult with their healthcare provider to choose a pump from another manufacturer.
    • Smiths Medical will work with pump users to transfer purchases of cartridges and infusion sets to one of the many national and/or regional distributors that stock these items. (Anyone who already is familiar with a distributor should feel free to contact that company immediately and start ordering supplies directly.)
    • NOTE: Pump users outside of the United States may continue to purchase disposable cartridges and infusion sets from their local Smiths Medical distributor, a list of which can be found at www.DeltecCozmoUpdate.com.
    For more information, including distributor contact details, U.S. and International pump users and healthcare professionals should visitwww.DeltecCozmoUpdate.com. In the United States, people may also contact the Smiths Medical customer support team at 1-800-826-9703.
    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:
    • The market has evolved from a familiar hardware-plus-disposables model to an integrated diabetes management model that would require significant ongoing investments in continuous glucose monitoring.
    • Smiths Medical?s shrinking market share has been exacerbated by the aggressive pursuit of market share growth by two large and well-resourced players ? Medtronic, which has the largest share of the U.S. insulin-pump therapy market, and J&J.
    • A considerable amount of intellectual property has been established in the diabetes segment, which makes the development of next-generation products very costly, and risky in terms of the potential for future patent disputes.
    ?Throughout our involvement in the diabetes market, we have chosen always to put care for our customer first, providing excellent clinical support, maintaining the integrity of our warranty and being proactive about fixing issues as they arose,? said Seshadri. ?For our efforts, we have been rewarded with a core group of very loyal customers. We thank them and reiterate our commitment to making this transition as easy as possible for them.?
    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/google/20090325005242/en


     
  2. ecs1516

    ecs1516 Approved members

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    Holy C@$#%$!!
     
  3. BrendaK

    BrendaK Neonatal Diabetes Registry

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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.
     
  4. betty6333

    betty6333 Approved members

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    Thanks for posting the update. It is good to know!
     
  5. Lee

    Lee Approved members

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    WOW! THat is mega!
     
  6. Denise

    Denise Approved members

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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!
     
  7. Ellen

    Ellen Senior Member

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    Do you have the option to return it within 30 days for a full refund?


    For everyone this impacts, more details here: http://www.delteccozmoupdate.com/
     
  8. Midwestmomma

    Midwestmomma Approved members

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    Oh He!!.....:mad:
     
  9. Adinsmom

    Adinsmom Approved members

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    Bleeping Economy :( I am sorry Cozmo users.
     
  10. moco89

    moco89 Approved members

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    I bet another company will buy out this company's business, and may just continue to sell the pump.
     
  11. frizzyrazzy

    frizzyrazzy Approved members

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    oh hell.

    It looks, after reading the info, that customer support, clinical support and replacement pumps will still be available for the length of your warranty. So it seems to me, if you've got a current cozmo you're fine.
     
  12. ecs1516

    ecs1516 Approved members

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    I was looking for that. I didn't see where it read they were going to give support.
     
  13. Ellen

    Ellen Senior Member

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  14. frizzyrazzy

    frizzyrazzy Approved members

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    I think the FAQ page. :)

    So I don't think there's cause for panic. It says it will be a controlled removal from the pump business, which sounds like it simply means it will not be selling new orders after this date. Everything else is status quo. Replacement pumps, as they are now, will be refurbished. For us, we have 2 years left on our warranty so I hope in 2 years we'll be able to have more choices on pumps and pumps with cgm built in. If not, then it will be our opportunity to get the MM with the CGM - as much as I dislike MM's practices I dislike the button pushing on the animas more LOL.
     
  15. BrendaK

    BrendaK Neonatal Diabetes Registry

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    I think it's been close to 60 days now -- I think it was around January 27th or something like that.....maybe Feb 1st. But I am SURE going to raise HELL about paying my bill. I am hoping they will write off the $500 I owe them because they were not straightforward with me about this stuff. They cannot have reps telling me that the Comzo and the Navigator are DEFINITELY going to be integrated within 2 years, blah blah blah, when I am choosing which pump to buy. I understand that they are just reps, but I was HIGHLY "recruited" or whatever the word is to renew my warranty when it was up in January. Lots of nice phone calls and home visits from Smiths Medical and the reps.
     
  16. momofsingingdiabetic

    momofsingingdiabetic Approved members

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    Yikes.

    Danielle's warranty is up in two years I think (they are 5 year warranties, right?). I wonder though, since we have a different insurance if we should start the process of looking now. *sigh*
     
  17. ecs1516

    ecs1516 Approved members

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    I just hate being with a pump company that is on the way out.
    I remember back when we got the Minimed 508 and then soon after the Distronic pump quit selling in the US I was glad that we went with Minimed.
    Sad....:(
     
  18. lmf1122

    lmf1122 Approved members

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    We just received our Cozmo on March 2nd and were supposed to start on saline next weekend.

    I sure hope we can return the Cozmo and get the PING in time to start the pump over Easter break as planned.
     
  19. Denise

    Denise Approved members

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    Such a shame..but glad there are good alternatives out there!
     
  20. Twinklet

    Twinklet Approved members

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    A friend just sent me the link to this. To say I'm dismayed is quite the understatement! Emily has been pumping with Cozmore for over 2.5 years and we LOVE this pump! We use ALL of the special features that are not available on other pumps, on a daily basis (Cozfoods, site change reminder, special screens, etc.). We also use the attached meter and always have. She loves not having to carry an extra meter around. Our heads are spinning here and she is in tears. We've tried other pumps and they just don't measure up to our needs in our opinion.

    She's also on the Navigator. I wonder if we'll get the sensors through Abbott directly now? I just tried to E-Mail our Cozmore Rep and the mail was returned! It was fully functioning only a month ago.

    I am crossing my fingers that another company (Abbott?) will pick up the pumps, but I doubt that will happen.

    I am so disappointed. :(
     

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