Bigfoot becomes wholly owned subsidiary of Abbott
Abbott Park, Ill.: Abbott has announced it has completed the acquisition of Bigfoot Biomedical, a company developing smart insulin management systems for people with diabetes.
"The transaction expands Abbott's presence in diabetes care, building on its world-leading FreeStyle Libre portfolio of continuous glucose monitoring technology and furthering the company's efforts to develop connected solutions for making diabetes management even more personal and precise," the release stated.
Pursuant to the terms of the merger agreement, upon completion of the acquisition, Bigfoot became a wholly owned subsidiary of Abbott. Financial terms were not disclosed.
Read also: Abbott to buy insulin management company Bigfoot Biomedical
Abbott and Bigfoot have worked together on connected diabetes solutions since 2017. Bigfoot developed Bigfoot Unity, a smart insulin management system that features the FDA-cleared connected insulin pen caps that use integrated continuous glucose monitoring (iCGM) data along with healthcare provider instructions to provide insulin dosing recommendations. The dosing recommendations are displayed on the pen cap's digital screen to help people know how much insulin to take. The Bigfoot Unity system exclusively works with Abbott's FreeStyle Libre technology and includes a customer smartphone app connected to a cloud-based online portal used by healthcare providers to support their patients, including through remote care. The system works with FreeStyle Libre 2 sensors and all major brands of both long-acting (basal) and rapid-acting (bolus) disposable insulin pens offered in the United States. It's indicated for use by people 12 years and older with diabetes who need multiple insulin injections a day.
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