Tandem Diabetes Care, Inc., a global insulin delivery and diabetes technology company, announced its acquisition of insulin patch pump developer AMF Medical SA.
The transaction is subject to the satisfaction of customary closing conditions and is expected to close in January 2023. Baker & McKenzie served as legal advisor to Tandem Diabetes Care. SVB Securities LLC served as exclusive financial advisor and Homburger AG served as legal advisor to AMF Medical. Terms of the deal were not disclosed.
Founded in 2006, Tandem Diabetes manufactures the t:slim X2 insulin pump with Control IQ technology.
AMF Medical SA is the privately held Swiss developer of the Sigi™ Patch Pump. The Sigi Patch Pump is designed to reduce the burden of managing diabetes through its use of pre-filled insulin cartridges and its compatibility with automated insulin delivery technology. The Sigi Patch Pump is under development and not commercially available.
According to the LevinPro HC database, this marks the 115th Medical Devices deal of 2022. This is nearly on par with last year’s activity when there were 116 transactions announced in the Medical Devices sector between January 1, 2021, and December 13, 2021.
