Abbott has made a significant move by acquiring Bigfoot Biomedical, a diabetes management technology maker. While the financial terms of the deal were not disclosed, Abbott and Bigfoot jointly announced the acquisition. The completion of the sale is expected in the third quarter of this year.
This strategic move brings together 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, emphasized that this acquisition will enable the development of connected solutions to make diabetes management more personalized and precise.
Bigfoot Biomedical’s flagship product, the Unity system, has gained recognition for its innovative approach to diabetes management. It utilizes “smart” caps that attach to most disposable long- and rapid-acting insulin pens. These caps can be tapped against a continuous glucose monitor (CGM) sensor on the user’s arm, providing real-time blood sugar readings. The data is displayed on the cap’s digital screen and within a connected smartphone app, offering users valuable information for insulin dosing decisions.
“The acquisition of Bigfoot Biomedical will combine two leaders in different aspects of diabetes care: continuous glucose monitoring and insulin dosing support. Bringing our companies together will allow us to further develop connected solutions for making diabetes management even more personal and precise.”
– Jared Watkin, senior vice president of Abbott’s Diabetes Care business
The Unity app compiles this data into comprehensive charts, highlighting glucose level trends and insulin dosage timing. It also sends alerts if real-time blood sugar levels deviate from a predetermined healthy range. Bigfoot’s system was originally designed for use with Abbott’s FreeStyle Libre CGMs, with both companies collaborating closely since 2017.
Bigfoot Biomedical had recently expanded its diabetes tech portfolio before the Abbott acquisition. In March, the company acquired an algorithm from developers at McGill University to track how individuals with diabetes respond to specific insulin doses, generating future dosing recommendations. This algorithm could potentially enhance the Bigfoot Unity system, simplifying insulin dose calculations and improving overall diabetes management.
“Bigfoot Biomedical is the first company to design, develop and deliver a novel insulin delivery solution built around continuous glucose monitoring. 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.”
– Jeffrey Brewer, chief executive officer, Bigfoot Biomedical
