Spectrx Acquires Maker of Insulin Delivery Products

In a move that will expand the company's diabetes business, Spectrx, Inc. (Norcross, GA, USA) has acquired Sterling Medivations, Inc. (Los Altos Hills, CA, USA), which makes insulin delivery products for people with diabetes. The transaction is valued at US$4 million.

The acquisition will add a portfolio of FDA-cleared insulin delivery products to the Spectrx line, including consumables for the rapidly growing insulin pump market. Sterling Medivations has developed a soft catheter infusion set for insulin pumps and another infusion set with special quick disconnect features. These products will help Spectrx establish distribution channels and additional partnerships in the diabetes marketplace and also generate near-term revenue. Spectrx is currently developing a continuous glucose monitor with Abbott Laboratories (Abbott Park, IL, USA) that samples interstitial fluid.

"Sterling is also a key strategic asset, in that it will help us achieve our ultimate goal of developing a closed-loop diabetes management solution that would combine our continuous glucose monitoring system with an insulin delivery system in one easy-to-use device,” said Mark A. Samuels, chairman and CEO of Spectrx.




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