Modular Medical Announces Collaboration with Glooko
- None.
- None.
Insights
The collaboration between Modular Medical and Glooko, Inc. represents a strategic move to enhance the former's product offering with connected care capabilities. This integration is significant for Modular Medical as it could potentially increase the adoption rate of their insulin pump technology upon commercial release. By tapping into Glooko's established user base and clinical presence, Modular Medical may see an expansion in market reach and user engagement.
From a financial perspective, this partnership could lead to revenue growth through increased sales volume driven by the added value of the integrated data monitoring features. Investors should monitor the impact of this collaboration on Modular Medical's market share and cost structure, as the company may incur additional expenses related to the integration and marketing of the new features.
The partnership's focus on user-friendly and affordable insulin pump technology is particularly relevant in the context of diabetes care, where ease of use and cost are critical factors in patient adherence to treatment. The integration with Glooko's remote patient monitoring can enhance the management of diabetes by providing comprehensive data analysis, which is essential for effective disease management.
In the long term, the collaboration could lead to improved clinical outcomes for patients due to better disease tracking and personalized care. However, it is essential to assess the efficacy and reliability of the technology post-integration, as any issues could negatively affect patient trust and the company's reputation.
The diabetes care industry is becoming increasingly competitive with technological advancements in continuous glucose monitoring systems (CGMS) and insulin delivery. Modular Medical's initiative to integrate with Glooko positions the company to capitalize on the trend of connected health solutions in diabetes management.
By aligning with Glooko's mission and leveraging its platform, Modular Medical is poised to address a larger portion of the diabetes care market. However, the success of this collaboration will depend on the seamless execution of the technology integration and the user adoption rate of the combined solution. It is also important to consider the competitive responses from other market players and potential technological advancements that may influence the market dynamics.
SAN DIEGO, CA / ACCESSWIRE / December 21, 2023 / Modular Medical, Inc. (Nasdaq:MODD) ("Modular Medical" or the "Company"), a development-stage, insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today announced a collaboration agreement with Glooko, Inc., a global leader specializing in connected care and remote patient monitoring for diabetes. Integrating with Glooko will allow clinicians and patients to easily review insulin dosing data from the MODD1 pump, when commercially available. In addition, through Glooko's platform, Dexcom CGMS users will be able to view their glucose levels in the same accessible format in conjunction with their pump data.
Glooko's platform has a broad installed base, which has been deployed in over 30 countries and 8,000 clinical locations.
"We are extremely pleased to add the Glooko technology platform to our diabetes care system making it even easier and more cost effective for us to provide this important capability to our clinical and patient base. Glooko's mission to improve health outcomes of people with chronic conditions through its personalized, intelligent, connected care platform fits perfectly with our vision of providing an easy to use, affordable delivery technology to give more patients access to better care," said Jeb Besser, CEO of Modular Medical.
About Modular Medical
Modular Medical, Inc. (Nasdaq:MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond "superusers" and providing "diabetes care for the rest of us."
Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.
All trademarks mentioned herein are the property of their respective owners.
About Glooko
Glooko improves health outcomes of people with diabetes and related chronic conditions through its personalized, intelligent, connected care platform. Our proven technologies make lives better by revolutionizing the connection between patients and providers, driving patient engagement and adherence, and accelerating the speed of clinical trials. Glooko is globally deployed in over 30 countries and 8,000+ clinical locations. For more information, please visit glooko.com.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statements contained in this press release. These factors include, but are not limited to, the ability of Modular Medical to integrate its products with third party technologies, whether Modular Medical can successfully develop its proprietary technologies, whether the market will accept Modular Medical's products and services, Modular Medical's ability to obtain FDA clearance for its MODD 1 product, anticipated consumer demand for its products, whether Modular Medical can successfully manufacture its products at high volumes, general economic, industry or political conditions in the United States or internationally as well as other risk factors and business considerations described in Modular Medical's SEC filings, including its annual report on Form 10-K. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent Modular Medical's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. Modular Medical assumes no obligation to update these forward-looking statements, except as required by law.
All trademarks mentioned herein are the property of their respective owners.
Contact:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
+1 (617) 399-1741
IR@modular-medical.com
SOURCE: Modular Medical, Inc.
View the original press release on accesswire.com
FAQ
What is the collaboration agreement announced by Modular Medical, Inc. (Nasdaq:MODD)?
What is the mission of Glooko, Inc. in the collaboration with Modular Medical, Inc. (Nasdaq:MODD)?
Who is the CEO of Modular Medical, Inc. (Nasdaq:MODD)?
