After its approval by the U.S. FDA late last year, Medtronic plc (NYSE:MDT) has launched its hybrid closed loop MiniMed 670G. The newly launched system is aimed at helping the company simplify the management of diabetes. As a result, it will involve the use of advanced smart algorithms, which help in controlling glucose levels in diabetic patients.
The system has an inclusion of a body-attached sensor and it is designed to automatically adjust insulin levels while measuring blood glucose every 5 minutes. However, it requires manual entry of carbohydrates consumed and the patients must also accept bolus correction recommendations.
A significant breakthrough for the diabetes community
On one end, Medtronic’s focus to expand is strategic given that every company is seeking to grow its portfolio. On the other hand, the approval and subsequent launch of MiniMed 670G is a significant breakthrough for the diabetes community, which has been waiting for such a moment.
Since its approval, intensive insulin management division President Alejandro Galindo says that there has been a remarkable response from the community. The data from a pivotal trial of the system is compelling and demonstrates great benefits to the patients. The innovation is expected to ease the load of managing this chronic disease.
In his press statement, Robert Schumm, the Ascensia managing director says, “We believe the MiniMed 670G system offers significant advantages to current insulin pump products available in the U.S., and marks an important milestone towards the goal of developing a fully automated, closed-loop system.”
Training and education for device use
Medtronic says that since the approval of its MiniMed 670G system, it has been seeking payer coverage. Nonetheless, the company is now sure of having its first shipment next week. This will be the initial launch and it will involve members of the company’s Priority Access Program.
The condition is not only a threat to patients but also to their caregivers and families. However, they now have a new level of independence and freedom. In the meantime, Medtronic’s stock was trading at $86.51 witnessing an increase of $0.57 or 0.66%.
