Abbott and Bigfoot Biomedical Finally Get Hitched

Abbott and Bigfoot Biomedical began an agreement for Abbott to acquire Bigfoot, which develops smart insulin management systems for diabetes patients. Financial terms weren’t disclosed, and Abbott expects the transaction to close in Q3 2023.
 
Abbott and Bigfoot have collaborated on connected diabetes solutions since 2017. Bigfoot built Bigfoot Unity, a smart insulin management system that features connected insulin pen caps that use integrated continuous glucose monitoring (iCGM) data with healthcare provider instructions to offer insulin dosing recommendations. The dosing recommendations are displayed on the pen cap’s digital screen to help people know the amount of insulin to take.
 
Bigfoot’s Unity system exclusively works with Abbott’s FreeStyle Libre tech and includes a customer smartphone app connected to a cloud-based online portal used by healthcare providers to support their patients, including remote care. The system works with FreeStyle Libre 2 sensors and all major brands of both basal and bolus disposable insulin pens offered in the U.S., according to Bigfoot.
 
It’s indicated for use by people 12 years and up with diabetes who require multiple insulin injections a day.
 
“The acquisition of Bigfoot Biomedical will combine two leaders in different aspects of diabetes care: continuous glucose monitoring and insulin dosing support,” Jared Watkin, senior vice president of Abbott’s Diabetes Care business told the press. “Bringing our companies together will allow us to further develop connected solutions for making diabetes management even more personal and precise.”
 
“Bigfoot Biomedical is the first company to design, develop and deliver a novel insulin delivery solution built around continuous glucose monitoring,” said Jeffrey Brewer, CEO, Bigfoot Biomedical. “We selected Abbott as our CGM partner because both companies share a vision to provide simple, affordable and easy-to-use tools for people with diabetes. We look forward to continuing to innovate together and to the scale Abbott can provide, bringing Bigfoot Unity to as many people who may benefit.”