Medtronic to acquire EOFlow, a wearable insulin patch-making company

Medtronic, a Minneapolis-based healthcare technology company, announced its plans to acquire EOFlow Company Ltd., manufacturer of the EOPatch device on Thursday.

The EOPatch device is a tubeless, wearable, fully disposable insulin delivery device — which Medtronic hopes will expand the company’s reach to people with diabetes.

The device features a technology made to deliver insulin with high accuracy and reliability while reducing the risk for insulin occlusion, a spokesperson for Medtronic said. Users can also download a smartphone app that allows them to monitor and control the patch from their phone.

The EOPatch is currently authorized for marketing in Europe, South Korea, Indonesia, and the United Arab Emirates.

Que Dallara Executive Vice President and President of Medtronic Diabetes, said the following in a news release:

“Our goal is to simplify diabetes management and deliver the well-established benefits of automated insulin delivery to our customers in the ways they want and need. We’re excited to introduce a differentiated wearable patch option to provide more patient choice and drive further innovation for those who want to use technology to make living with diabetes easier.”

As a part of the acquisition, the Meal Detection Technology algorithm that Medtronic currently uses in their MiniMed 780G system will be implemented into the EOPatch device, a spokesperson for Medtronic said.

The acquirement of EOFlow provides diabetes patients with more options, including smart multiple daily injections (MDI), tethered insulin pumps and wearable insulin path technologies.

EOFlow’s founder and CEO shared the following statement:

“We’re thrilled to accelerate our next phase of growth with a partner like Medtronic who shares our goal of simplifying diabetes management to make life easier for the customers we serve. Together, we’ll work to advance innovation in wearable insulin patch technology to expand our reach to more individuals around the world living with diabetes.