US medical devices giant Medtronic (NYSE: MDT) is in talks to acquire Israeli insulin pump patch developer Triple Jump at a company valuation of $300 million.
Triple Jump was founded in 2015 by CTO Dr. Guy Shinar, Ofer Yodfat and is headed by general manager Assaf Guy. Among the company’s first investors was disk-on-key inventor Dov Moran and last year Medtronic invested $20 million in the Yokneam-based medical device company with an option to acquire the full holdings.
Triple Jump’s small insulin pump patch for diabetes patients is designed to be placed on the patient’s body. The patch has mobile connectivity capabilities and will be included in a future artificial pancreas system – Medtronic has already developed such an artificial pancreas system and plans integrating Triple Jump’s device into the system to improve its pumping capabilities.
The Triple Jump system comprises a compact, fully portable, battery-operated miniature insulin pump and hand-held controller and includes all supporting accessories and sterile single-use disposables.
Published by Globes, Israel business news – en.globes.co.il – on October 17, 2021
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