Medtronic PLC (NYSE: MDT) and QUALCOMM, Inc. (NASDAQ: QCOM) through its wholly-owned subsidiary, Qualcomm Life, Inc., disclosed a multi-year collaboration to jointly develop future generation continuous glucose monitoring (CGM) systems. According to the companies, the objective is to enhance health outcomes for people with diabetes.
Medtronic said that by giving insights to doctors and people with type 2 diabetes concerning glucose levels, the companies plan to allow more informed care, particularly for those who do not have control of their diabetes currently. The two firms said that the collaboration sought to leverage Medtronic's market-leadership in diabetes management.
Similarly, Qualcomm Life's expertise in developing reference designs for wireless, single-use and small integrated modules would establish more affordable, easier-to-use CGM systems. That included a new sensor and smaller design that can provide near real-time and retrospective glucose data.
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The companies said that the focus of the collaboration would be to develop a single-use CGM system designed for broader practice by general practitioners who manage care for the vast majority of the 400 million people worldwide with type 2 diabetes. The company added that this collaboration supported Medtronic's tactics to create comprehensive CGM solutions, which not only measure glucose but also enabled the delivery of actionable insights to both patients and providers.
Medtronic's vice president and general manager, Laura Stoltenberg, said, "We believe that glucose should be a vital sign of diabetes health. Professional CGM is an increasingly used diagnostic tool that empowers physicians and patients with meaningful glucose data to tackle glucose control. Our solutions go beyond delivering data and provide automated observations and clinical decision support to help create a personalized care plan."
He continued, "Our vision is to transform diabetes care so people with diabetes can enjoy greater freedom and better health. We are thrilled to be collaborating with Qualcomm Life — a best-in-class leader in wireless technologies that is ahead of the curve in a rapidly changing connected world — to develop innovative and affordable CGM systems that will fundamentally change type 2 diabetes management."
The two companies stated that advanced CGM solutions are a critical element of an integrated care model. By creating an ecosystem of industry leading partners, Medtronic aims to deliver more than just devices and provide intelligent solutions improving the outcomes, while lowering the overall cost of care.
At time of writing, Medtronic shares traded up 0.27 percent, and Qualcomm shares traded higher by 0.5 percent.
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