Medtronic and Qualcomm Collaborate to Aim to Improve Care and Health Outcomes for People with Type 2 Diabetes
May 25 2016 - 7:30AM
Joint
Development of Future Generation Continuous Glucose Monitoring
(CGM) Systems Aims to Provide Actionable Insights to Help Deliver
Integrated Diabetes Care
DUBLIN and SAN DIEGO
- May 25, 2016 - Medtronic plc (NYSE:MDT) and Qualcomm Incorporated
(NASDAQ:QCOM) through its wholly-owned subsidiary, Qualcomm Life,
Inc., today announced a global, multi-year collaboration to jointly
develop future generation continuous glucose monitoring (CGM)
systems that aim to improve health outcomes for people with
diabetes. By giving insights to doctors and people with type 2
diabetes concerning glucose levels, the companies intend to enable
more informed care, especially for those who do not have control of
their diabetes today. The collaboration seeks to leverage
Medtronic's market-leadership in diabetes management and Qualcomm
Life's expertise in developing reference designs for wireless,
single-use and small integrated modules to create more affordable,
easier-to-use CGM systems, including a new sensor and smaller
design that can provide near real-time and retrospective glucose
data.
The initial focus of the collaboration will be to
develop a single-use CGM system designed for broader practice by
general practitioners who manage care for the vast majority of the
400 million people worldwide with type 2 diabetes. This
collaboration supports Medtronic's strategy to develop
comprehensive CGM solutions that not only measure glucose but
enable the delivery of actionable insights to both patients and
providers.
Leveraging Qualcomm Life's deep wireless expertise
and technologies, 2net(TM) Design is a platform for designing the
communications components of connected medical devices, including
disposable drug delivery devices and disposable diagnostic devices
for condition specific connected therapies.
"We believe that glucose should be a vital sign of
diabetes health. Professional CGM is an increasingly used
diagnostic tool that empowers physicians and patients with
meaningful glucose data to tackle glucose control. Our solutions go
beyond delivering data and provide automated observations and
clinical decision support to help create a personalized care plan,"
said Laura Stoltenberg, vice president and general manager,
Non-Intensive Diabetes Therapies at Medtronic. "Our vision is to
transform diabetes care so people with diabetes can enjoy greater
freedom and better health. We are thrilled to be collaborating with
Qualcomm Life - a best-in-class leader in wireless technologies
that is ahead of the curve in a rapidly changing connected world -
to develop innovative and affordable CGM systems that will
fundamentally change type 2 diabetes management."
"Qualcomm Life's connected health expertise along
with our enabling 2net Connectivity Platform and 2net Design
capabilities fit naturally with Medtronic's diabetes leadership in
bringing future generation CGM systems to market," said Rick
Valencia, president and general manager, Qualcomm Life, Inc. "This
collaboration furthers our commitment of enabling new connected
care models that liberate vital data and unlock insights to deliver
intelligent care wherever the patient may be."
Advanced CGM solutions are a critical element of
an integrated care model. By building an ecosystem of industry
leading partners, Medtronic aims to deliver more than just devices
and provide intelligent solutions that improve outcomes, while
lowering the overall cost of care.
About Qualcomm
Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G
and next-generation wireless technologies. Qualcomm Incorporated
includes Qualcomm's licensing business, QTL, and the vast majority
of its patent portfolio. Qualcomm Technologies, Inc., a subsidiary
of Qualcomm Incorporated, operates, along with its subsidiaries,
substantially all of Qualcomm's engineering, research and
development functions, and substantially all of its products and
services businesses, including its semiconductor business, QCT. For
more than 30 years, Qualcomm ideas and inventions have driven the
evolution of digital communications, linking people everywhere more
closely to information, entertainment and each other. For more
information, visit Qualcomm's website, OnQ blog, Twitter and
Facebook pages.
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.
Qualcomm and 2net are trademarks of
Qualcomm Incorporated, registered in the United States and other
countries, used with permission.
-end-
Qualcomm Contacts:
Emily Kilpatrick
Corporate Communications
+1-858-845-5959
Jamie Eisinger
Qualcomm Life, Inc.
+1-858-845-1033
Warren Kneeshaw
Investor Relations
+1-858-658-4813
Medtronic Contacts:
Amanda Sheldon
Public Relations
+1-818-576-4826
Ryan Weispfenning
Investor Relations
+1-763-505-4626
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
HUG#2015226
Medtronic (NYSE:MDT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Medtronic (NYSE:MDT)
Historical Stock Chart
From Apr 2023 to Apr 2024