It’s been some time since Medtronic plc (NYSE: MDT) added outside capabilities to its Diabetes Group. Since 2015, in fact, when it bought Diabeter, an independent clinic and research center in Rotterdam.
Now the medical device maker has added Nutrino Health, an Israeli digital health company focused on nutrition. It provides nutrition-related data services, analytics and technologies using artificial intelligence-driven personal assessments. It also has been developing algorithms to predict glycemic responses to food.
In April 2018, Nutrino raised $8 million in a Series A round from Pereg Ventures, Nielsen Ventures, Gandyr Group and a number of business angels. Financial terms of its acquisition were not disclosed.
Medtronic will integrate Nutrino’s extensive food analysis infrastructure and nutrition science into its Diabetes Group, which is focused on innovating diabetes management resources to improve the lives of patients with diabetes. It includes the Advanced Insulin Management (AIM) and Emerging Technologies divisions.
Medtronic’s Diabetes Group has showed strong performance this year, as the company reported in its second quarter 2018 earnings report on November 20. Worldwide second-quarter revenue increased 26.2% for the group, reaching $583 million, out of total Q2 revenue of $7.5 billion.
