Aetna Inc (NYSE:AET) Strikes Diabetes Deal With Medtronic (NYSE:MDT)

Aetna Inc (NYSE:AET)

Medtronic plc. Ordinary Shares (NYSE:MDT) announced on Monday that it struck a partnership deal with Aetna Inc (NYSE:AET), through which they will measure the health outcomes for type 1 and type 2 diabetes patients relying on Medtronic insulin pump.

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The partnership between Medtronic and Aetna will seek to establish the outcome for diabetes patients on multiple daily doses of insulin using the Medtronic insulin pump. The latter incorporates SmartGuard Technology from Medtronic which also includes the new MiniMed 670G system. The partnership between the two firms provides Aetna members with access to advanced support systems and diabetes technologies from Medtronic. The new partnership is aimed at providing improved patient outcome at a significantly lower cost.

“The agreement ties a component of Medtronic’s reimbursement to successfully meeting agreed-upon clinical improvement thresholds for Aetna members with type 1 and type 2 diabetes who chooses to transition from multiple daily injections to a Medtronic insulin pump,” said Medtronic in a statement.

The company also stated that its main objective is to maintain the lead in the industry by delivering innovation that improves the outcomes of patients while also boosting their experience at considerably lower costs. The firm also pointed out that its insulin delivery systems are the only ones in the world that have the ability to take action using sensor values.

Medtronic also pointed out that the growing clinical evidence showing off the advantages of SmartGuard technology has been quite encouraging. It also provides a compelling reason for the firm to work together with Aetna in order to spread the knowledge about the advantages of the technologies. The partnership will go a long way towards offering significant change for patients and it marks a step forward for the health system.

Suzanne Winter, the vice president for the Americas Group for diabetes stated that the organization was happy to be collaborating with a healthcare leader. This is mainly because the company is also focused on the same goal, which is to improve diabetes care for the benefit of the patients. Winter also added that the new partnership was an important step that will usher in more partnerships in the future.

Aetna stock closed the latest trading session at $151.19.

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