Medtronic and Chengdu Sign Insulin Pump Manufacturing Agreement
January 11 2016 - 8:00AM
New Agreement Will
Help Expand Access to Advanced Diabetes Therapies in China
DUBLIN and CHENGDU, China -
January 11, 2016 -
Medtronic plc (NYSE:MDT), the global leader in medical technology,
has formed a partnership with the Chengdu municipal government to
manufacture and deploy advanced diabetes therapies in Chengdu,
China.
As part of the agreement, Medtronic will invest in
a manufacturing facility for a next generation sensor augmented
pump system with SmartGuard(TM) technology to help provide better
diabetes management for the growing diabetes population in China.
In addition, Medtronic will partner with the Chengdu government to
enable people with diabetes in Chengdu and the broader Sichuan
province to access this new, locally produced technology with
software displayed in Chinese language.
The commitment follows upon a
strategic partnership agreement signed by Medtronic and the city's
municipal government last September. The earlier
deal commits both the Chengdu municipal government and
Medtronic to expand access to proven therapies,
particularly solutions for diabetes management, in China as
well as other countries.
The manufacturing facility is the second Medtronic
plant announced in Chengdu over the past 18 months, when the
company publicized a plan to establish its first factory worldwide
for portable hemodialysis equipment in August 2014.
"Medtronic and Chengdu share a commitment to
transform diabetes care through advanced therapies that can
provide greater freedom and better health to over one hundred
million people living with diabetes in China1," said
Alejandro Galindo, president of the Intensive Insulin
Management Business in the Diabetes Group at Medtronic. "By
manufacturing both advanced insulin pumps and hemodialysis
products in Chengdu, we will benefit from the expertise of
this global medical technology hub, while expanding access of our
innovative therapies to China's growing population."
"The latest agreement marks another milestone
in collaboration between Chengdu and Medtronic and confirms the
potential of a public private partnership to improve health and
quality of life for underserved diabetes population in China and
beyond,"said Yuan Zongyong, deputy director of Chengdu High
Tech Zone.
About the Diabetes Group at
Medtronic (www.medtronicdiabetes.com)
Medtronic is working together with the global community to change
the way people manage diabetes. The company aims to transform
diabetes care by expanding access, integrating care, and improving
outcomes, so people living with diabetes can enjoy greater freedom
and better health.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is among the world's largest medical technology, services,
and solutions companies - alleviating pain, restoring health, and
extending life for millions of people around the world. Medtronic
employs more than 85,000 people worldwide, serving physicians,
hospitals, and patients in approximately 160 countries. The company
is focused on collaborating with stakeholders around the world to
take healthcare Further, Together.
Any forward-looking statements
are subject to risks and uncertainties such as those described in
Medtronic's periodic reports on file with the Securities and
Exchange Commission. Actual results may differ materially from
anticipated results.
-end-
1 114 million
people have diabetes in China according to the International
Diabetes Federation
Contacts:
Winston Wu
Public Relations
+86-21 2032 5888
Ryan Weispfenning
Investor Relations
+1-763-505-4626
Francesca DeMartino
Public Relations Diabetes
+1-310-739-6476
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
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