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Re: [IP] re: pump exchange (Medtronic Minimed)
I'm sitting here being more than a little cynical about the "drama" that is
going on with the current "upgrade" program....
When Medtronic announced that they were buying Minimed a partial press
release mentioned entering the "fast-growing and lucrative market for
treatment" of diabetes.
(see partial quotes and full article links below)
While looking for these financial aspects articles, I came across a couple
of things that, though not show stoppers, concerned me.
1. The newest pump uses proprietary infusion sets -> only alternative from MM.
2. The new pump, though better, still has static problems.
I am a bit concerned and wondering out loud about international standards
related to medical device compatibility (infusion sets) and static
shielding (electronic devices)...
Will a single pump have enough market to be profitable for infusion set
competitors? .....and at what cost????????
Medtronic entered this race to address one of the most potentially
lucrative medical markets in the world only recently. It acquired
California-based MiniMed and an affiliated company for $3.7 billion last year.
The deal brought together the largest maker of mainly external insulin
pumps, MiniMed, which now holds more than 80 percent of that U.S. market,
with the world's largest maker of implantable medical devices.
Gregg, who joined Medtronic through the acquisition, said the development
costs of an artificial pancreas had put a strain on MiniMed and were among
the reasons MiniMed agreed to the purchase. MiniMed's 2000 revenue was
about $300 million. Through Medtronic, which has annual revenue approaching
$6 billion, the researchers gained much deeper pockets.
"There are very few organizations that could fund that [project] over a
long period of time," Gregg said.
He said, though, that Medtronic offered much more than money. Medtronic's
expertise in conducting clinical trials, implanting medical devices and
developing sophisticated sensing technology will be vital to the product's
The company's manufacturing experience is another advantage. "They do
25,000 drug-pump implants a year" for pain relief and other treatments,
Gregg said. "We do a handful in comparison."
The moves will give Medtronic, which generates half its sales from
defibrillators and pacemakers, a strong presence in the fast-growing and
lucrative market for treatment of the 16 million Americans with diabetes,
Medtronic said in a statement.
"The acquisition of MiniMed and MRG gives additional momentum to both our
short- and long-term strategies for growth,'' said Art Collins, Medtronic's
email @ redacted
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