Medtronic To Acquire Companion Medical - Quick Facts

(RTTNews) - Medtronic plc (MDT) announced the planned acquisition of Companion Medical, manufacturer of InPen — the FDA-cleared smart insulin pen system. Medtronic said it will look to expand the availability of InPen globally. The transaction is expected to be neutral to Medtronic's adjusted earnings per share in the current fiscal year, and accretive thereafter.

"We look forward to building upon the success of the InPen by combining it with our intelligent algorithms to deliver proactive dosing advice personalized to each individual. This smart CGM system can help people think less about diabetes and be able to live life with more freedom, on their own terms," said Sean Salmon, executive vice president and president of the Diabetes Group at Medtronic.