Sam Brusco, Associate Editor12.13.22
Tandem Diabetes Care began an agreement to acquire AMF Medical SA, the privately-held Swiss developer of the Sigi patch pump.
The financial terms of the deal are as follows:
Sigi is currently under development and not commercially available. It’s designed to be an ergonomic, rechargeable patch pump that lowers the burden of diabetes through the use of pre-filled insulin cartridges and compatibility with automated insulin technology.
“This acquisition supports our commitment to drive growth through innovation, as AMF Medical has novel technology and a shared passion for creating easy-to-use solutions to improve the lives of people with diabetes,” John Sheridan, Tandem Diabetes Care president and CEO told the press. “Our portfolio approach to diabetes care is designed to bring the benefits of advanced insulin pump therapy to more people worldwide, utilize our expertise in automated insulin delivery technology and data management, and leverage our commercial infrastructure to create shareholder value.”
AMF Medical’s insulin delivery solution is expected to expand Tandem’s market opportunities for both type 1 and 2 diabetes. It also offers the company an additional pump that reduces generation of electronic and battery waste.
The financial terms of the deal are as follows:
- Previous strategic investment of CHF 8 million paid in Q3 2022
- Cash payment of CHF 62.4 million at closing
- Additional contingent earnout payments of up to CHF 129.6 million payable on achievement of certain milestones (38.4 million on successful completion of critical development milestones over the next two years, 91.2 million upon obtaining regulatory clearance of an automated controller enabled (ACE) pump by the FDA)
Sigi is currently under development and not commercially available. It’s designed to be an ergonomic, rechargeable patch pump that lowers the burden of diabetes through the use of pre-filled insulin cartridges and compatibility with automated insulin technology.
“This acquisition supports our commitment to drive growth through innovation, as AMF Medical has novel technology and a shared passion for creating easy-to-use solutions to improve the lives of people with diabetes,” John Sheridan, Tandem Diabetes Care president and CEO told the press. “Our portfolio approach to diabetes care is designed to bring the benefits of advanced insulin pump therapy to more people worldwide, utilize our expertise in automated insulin delivery technology and data management, and leverage our commercial infrastructure to create shareholder value.”
AMF Medical’s insulin delivery solution is expected to expand Tandem’s market opportunities for both type 1 and 2 diabetes. It also offers the company an additional pump that reduces generation of electronic and battery waste.