Medtronic said the company will be rolled into its Diabetes Group to improve its diabetes management capabilities by adding Nutrino's comprehensive food database, food analysis system and nutrition-science expertise.
Medical device giant Medtronic has announced plans to purchase its longtime partner in the nutrition space, Israeli company Nutrino Health, which provides food analytics and technologies.
Financial terms of the deal were not disclosed, but Medtronic said the company will be rolled into its Diabetes Group to improve its diabetes management capabilities by adding Nutrino’s comprehensive food database, food analysis system and nutrition-science expertise.
Financing the Future of Digital Medicine
Digital healthcare investments are benefiting from the surfeit of cash that is lifting the biotech sector and, in fact, all industries in 2018. Learn more by downloading the report.
“The Nutrino team is passionate about personalized nutrition data services and technologies. Our work in the diabetes space is helping to address the needs of a growing population that needs better tools and guidance,” Yael Glassman, CEO of Nutrino Health, said in a statement.
“We are excited to now focus completely on the intersection of nutrition and diabetes to help more people be able to better manage their condition.”
Nutrino was founded in 2011 and has raised more than $10 million for its nutrition platform called FoodPrint, a personalized assessment of how people respond to different foods.
Alongside its expertise in diet science, Nutrino has also started to develop algorithms to predict glycemic response to food which can be incorporated into Medtronic’s continuous glucose monitoring (CGM) and closed loop systems technologies for diabetes patients.
Medtronic and Nutrino started working together back in 2016 on products like Medtronic’s CGM logging application and its diabetes smart assistant app.
Bringing Nutrino and their nutrition-related expertise into our organization will give us a substantial differentiator in the diabetes industry and accelerate our progress to help people with diabetes live with greater freedom and better health,” Hooman Hakami, executive vice president and president of the Diabetes Group at Medtronic, said in a statement.
“The Nutrino team has been an outstanding partner over the past few years. We are excited to welcome them to our team, and I have no doubt that, together, we will make a profound impact on the lives of people with diabetes.”
The deal is expected to close in January and follows news that Medtronic competitor in the diabetes space Dexcom purchased insulin delivery management company TypeZero Technologies in August for $11.3 million.
Source : https://medcitynews.com/2018/11/medtronic-acquires-israeli-nutrition-data-startup-nutrino-health/