Abbott’s strategic acquisition of Bigfoot Biomedical to revolutionize diabetes care

USA — Abbott, a leading player in the healthcare industry, is poised to elevate diabetes care to new heights with its decision to acquire Bigfoot Biomedical, a company renowned for its innovations in diabetes solutions.

This bold move comes after six years of collaboration between the two companies and promises to revolutionize the way diabetes is managed.

Jared Watkin, Senior VP of Abbott’s diabetes care business, expressed excitement about the acquisition, stating, “The acquisition of Bigfoot Biomedical will combine two leaders in different aspects of diabetes care: continuous glucose monitoring and insulin dosing support.

“Bringing our companies together will allow us to further develop connected solutions for making diabetes management even more personal and precise.”

Bigfoot Biomedical gained recognition in 2017 when it was named Medtech Company of the Year. The California-based company introduced the Bigfoot Unity, a smart insulin management system featuring FDA-cleared connected insulin pen caps.

These caps leverage integrated continuous glucose monitoring (iCGM) data and healthcare provider instructions to offer precise insulin dosing recommendations, displayed on the pen cap’s digital screen for easy reference.

Abbott’s journey with Bigfoot began in July 2017 when Bigfoot chose Abbott as its iCGM partner, a decision that was significant in the medical technology landscape.

This partnership occurred just two months before the FDA approved Abbott’s FreeStyle Libre Flash glucose monitoring system as a replacement for blood glucose monitoring for adults.

Jeffrey Brewer, CEO of Bigfoot Biomedical, highlighted the company’s groundbreaking approach, saying, “Bigfoot Biomedical is the first company to design, develop, and deliver a novel insulin delivery solution built around continuous glucose monitoring.

“We selected Abbott as our CGM partner because both companies share a vision to provide simple, affordable, and easy-to-use tools for people with diabetes. We look forward to continuing to innovate together and to the scale Abbott can provide, bringing Bigfoot Unity to as many people who may benefit.”

Currently, the Bigfoot Unity system is exclusively compatible with Abbott’s FreeStyle Libre technology. It includes a customer smartphone app linked to a cloud-based online portal that aids healthcare providers in supporting their patients, including remote care.

The system works with FreeStyle Libre 2 sensors and all major brands of disposable insulin pens (both long-acting and rapid-acting) available in the United States. It is indicated for use by individuals aged 12 years and older requiring multiple daily insulin injections.

The announcement of Abbott’s acquisition of Bigfoot Biomedical has been met with anticipation, as it aligns with both companies’ commitment to simplifying diabetes management.

Medtech analysts view this strategic move favorably, as it could accelerate the adoption of the Unity system for patients using multiple daily injections (MDI) to manage their diabetes.

Marie Thibault, a medtech analyst at BTIG, commented, “If reimbursement is more widely established in the U.S., the integrated ecosystem could drive some share shift from competitive systems toward Libre among those on MDI interested in smart pens.”

Thibault acknowledged the presence of long-term risks in the diabetes tech space but sees a continued role for continuous glucose monitors (CGMs) and insulin pens, viewing this acquisition as a vote of confidence in the future of insulin.

Bigfoot has also been at the forefront of innovation in closed-loop automated insulin delivery (AID) pumps, earning a breakthrough device designation from the FDA.

Additionally, in February, Insulet acquired patent assets from Bigfoot related to pump-based AID capabilities, further highlighting Bigfoot’s influence in the diabetes tech landscape.

This acquisition announcement comes at a time when the automated insulin delivery market is experiencing heightened interest and activity.

Companies like Beta Bionics are raising substantial funding, and Medtronic’s diabetes business is witnessing a resurgence, driven largely by the demand for the FDA-approved MiniMed 780G, a testament to the growing importance of advancing diabetes care solutions.

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