Insulet acquires Neighborhood Diabetes
BEDFORD, Mass. — A company that develops insulin-pump technology without tubing, such as the OmniPod insulin management system, has acquired a durable medical equipment distributor that specializes in direct-to-consumer sales of diabetes supplies.
Insulet said its acquisition of Woburn, Mass.-based Neighborhood Diabetes — which serves more than 60,000 customers with Type 1 and Type 2 diabetes with blood-glucose testing supplies, insulin pumps, pump supplies and pharmaceuticals — would "advance Insulet's mission to make the lives of people living with diabetes easier." The acquisition would provide Insulet with a full suite of diabetes management product offering, including the OmniPod insulin management system, as well as blood-glucose testing supplies, continuous glucose-monitoring sensors and insulin.
"Our customers consistently express interest in purchasing additional diabetes management supplies from us. Now we will be able to directly provide them with test strips, sensors and insulin," Insulet president and CEO Duane DeSisto said.
The acquisition carries a price tag of about $63 million in cash and stock.