Tandem Diabetes Care Acquires Infusion Set Developer, Capillary Biomedical

Rhea-AI Summary

Tandem Diabetes Care (NASDAQ:TNDM) has acquired Capillary Biomedical, an infusion set developer, aiming to enhance its insulin delivery portfolio. The acquisition focuses on expanding options for insulin pump wearability, with a commitment to developing innovative solutions that extend wear time and reduce user burden. Although the technology is still in development and not yet available commercially, the company sees potential synergies in integrating Capillary's solutions into its product offerings. Financial terms of the transaction remain undisclosed.

Positive

• Acquisition expands Tandem's infusion set portfolio, enhancing market capabilities.
• Potential for innovative product development and extended wear options for users.

Negative

• Capillary Biomedical’s technology is not commercially available yet, indicating a delay in revenue generation.
• Integration challenges may arise when incorporating Capillary's products into Tandem's existing offerings.

SAN DIEGO--(BUSINESS WIRE)-- Tandem Diabetes Care, Inc. (NASDAQ:TNDM), a global insulin delivery and diabetes technology company, today announced its acquisition of infusion set developer, Capillary Biomedical.

“Infusion sets provide people flexible options in insulin pump wearability, and we are dedicated to expanding our portfolio of sets to offer our customers even greater choice in personalizing their therapy management system,” said John Sheridan, Tandem Diabetes Care president and chief executive officer. “Through this acquisition, and through our efforts with existing infusion set partners, we look forward to developing new and innovative infusion set solutions that are designed to extend wear time and enhance user experience, while reducing occlusions, body burden and waste.”

Capillary Biomedical’s unique extended wear infusion set technology is currently in development and not commercially available. Financial terms were not disclosed.

About Tandem Diabetes Care, Inc.

Tandem Diabetes Care, Inc., a global insulin delivery and diabetes technology company based in San Diego, California, creates new possibilities for people living with diabetes, their loved ones, and healthcare providers through a positively different experience. The company’s human-centered approach to design, development, and support delivers innovative products and services for people who use insulin. Tandem manufactures and sells the t:slim X2 insulin pump with Control-IQ technology. For more information, visit tandemdiabetes.com.

Follow Tandem Diabetes Care on Twitter @tandemdiabetes; use #tslimX2 and $TNDM.
Follow Tandem Diabetes Care on Facebook at facebook.com/TandemDiabetes.
Follow Tandem Diabetes Care on LinkedIn at linkedin.com/company/tandemdiabetes.

© 2022 Tandem Diabetes Care, Inc. All rights reserved. Tandem Diabetes Care, Control-IQ, and t:slim X2 are either registered trademarks or trademarks of Tandem Diabetes Care, Inc. in the United States and/or other countries. All third-party marks are the property of their respective owners.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. These forward-looking statements relate to, among other things, the Company’s future development of new diabetes-related products and services, the Company’s advancement of infusion set offerings, including its continued development and introduction of an extended wear infusion set, the ability of the Company to successfully obtain FDA approval for its infusion set, and the timing of the launch of the infusion set. These statements are subject to numerous risks and uncertainties, including the Company’s ability to innovate and manage growth, the Company’s ability to successfully integrate Capillary Biomedical’s infusion set products and designs into the Company’s diabetes-related products and services, the Company’s ability to successfully manufacture and launch the Capillary Biomedical infusion set, and uncertainties regarding market conditions impacting the Company’s business and industry, as well as other risks identified in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and other documents that we file with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Tandem undertakes no obligation to update or review any forward-looking statement in this press release because of new information, future events or other factors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220721005859/en/

Media Contact:

Steve Sabicer

714-907-6264

ssabicer@thesabicergroup.com

Investor Contact:

Susan Morrison

858-366-6900

IR@tandemdiabetes.com

Source: Tandem Diabetes Care, Inc.

FAQ

What is the purpose of Tandem Diabetes Care's acquisition of Capillary Biomedical?

The acquisition aims to enhance Tandem's infusion set portfolio and offer more options for insulin pump wearability.

When was the acquisition of Capillary Biomedical by Tandem Diabetes Care announced?

The acquisition was announced on [insert date of the press release, if available].

What impact does the acquisition of Capillary Biomedical have on Tandem's future products?

The acquisition is expected to lead to the development of innovative infusion set solutions that improve wear time and user experience.

Does Tandem Diabetes Care disclose the financial terms of the Capillary Biomedical acquisition?

No, the financial terms of the acquisition have not been disclosed.

What risks are associated with the acquisition of Capillary Biomedical by Tandem Diabetes Care?

Risks include the successful integration of Capillary's products and possible delays in bringing new offerings to market.