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4-Traders Homepage  >  Equities  >  Nyse  >  Medtronic PLC    MDT   IE00BTN1Y115

MEDTRONIC PLC (MDT)
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Medtronic : Animas Corporation to Close Operations and Exit Insulin Pump Market

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10/05/2017 | 01:01pm CET

Company will work with Medtronic as a partner-of-choice to help ensure a smooth transition for patients on insulin pumps

CHESTERBROOK, Pa., Oct. 5, 2017 /PRNewswire/ -- Animas Corporation, one of the Johnson & Johnson Diabetes Care Companies, today announced that it intends to discontinue the manufacturing and sale of Animas® Vibe® and OneTouch Ping® insulin pumps, close operations and exit the insulin pump business.

Animas has selected Medtronic plc (NYSE: MDT), a world leader in diabetes, as its partner-of-choice to facilitate a seamless transition for patients, caregivers and healthcare providers. Patients using an Animas insulin pump will be offered the option to transfer to a Medtronic pump.

Patient safety and continuity of care is of utmost importance and Animas will continue to provide customer service, training and warranty support, including providing pump supplies that are used in conjunction with the Animas® Vibe® and OneTouch Ping® insulin pumps, through a transition period.

"We recognize that patients living with diabetes rely on our products to provide critical care, and we want to reassure them that we will be with them every step of the way throughout this transition," said Valerie Asbury, General Manager of Animas Corporation. "Our number one priority is ensuring patients have a seamless experience as they transition to Medtronic. For over 30 years, Medtronic has been a global leader in the treatment of those living with diabetes, and we are confident they will provide outstanding support to our patients and their healthcare teams."

"We are incredibly grateful to our patients and healthcare partners for the trust, confidence and loyalty they have placed in Animas products over the last 12 years," Asbury said. "With changing needs of customers, rapidly evolving market dynamics, and increased competitive pressures, it proved too difficult to sustain the insulin pump business and we decided to pursue an exit of the business. This decision was extremely difficult and comes following the extensive exploration of all other viable options for the Animas business."

Approximately 90,000 patients currently use Animas pumps and products. Those patients, caregivers and healthcare providers may explore insulin pump transition options by visiting www.medtronicdiabetes.com/Animas or contacting Medtronic at the following toll-free numbers:

    --  U.S.: (855) 322-9568
    --  Canada: (800) 284-4416

Patients, caregivers and healthcare providers can also visit www.animaspatientsupport.com for more information.

Animas has discontinued the sale of all Animas® Vibe® and OneTouch Ping® insulin pumps in the U.S. and Canada, effective immediately. A decision and timing to exit countries outside of the U.S. and Canada is subject to completing consultation with relevant works councils. For the patients, caregivers and healthcare providers outside of the U.S. and Canada who currently use Animas pumps and products, Animas will continue to sell pumps and operate as usual.

Animas employs approximately 410 people globally. Consistent with Our Credo, all affected employees will be treated with fairness and respect.

As part of the strategic review process for the Johnson & Johnson Diabetes Care Companies announced in January 2017, Johnson & Johnson is continuing to evaluate potential strategic options for LifeScan, Inc., a world leader in blood glucose monitoring with the OneTouch® brand of products.

The Johnson & Johnson Family of Companies remains committed to the prevention and treatment of diabetes, and will continue to serve those impacted by diabetes through innovative products, services and solutions from its Medical Device, Pharmaceuticals, and Consumer businesses. These include important leadership and innovation in areas such as bariatric surgery and through medicines such as INVOKANA® (canagliflozin) and INVOKAMET® (canagliflozin/metformin HCl).

Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding strategic plans with respect to its diabetes care business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Animas Corporation, any of the other Johnson & Johnson Diabetes Care Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: the possibility that the activities mentioned here will not be completed in the anticipated manner or timeframe; and the potential that the expected strategic benefits or opportunities associated with the initiative may not be realized, or may take longer to realize than expected. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2017, including "Item 1A. Risk Factors," its most recently filed Quarterly Report on Form 10-Q, including under the caption "Cautionary Note Regarding Forward-Looking Statements," and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither the Johnson & Johnson Diabetes Care Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.

View original content:http://www.prnewswire.com/news-releases/animas-corporation-to-close-operations-and-exit-insulin-pump-market-300530598.html

SOURCE Johnson & Johnson Diabetes Care Companies


© PRNewswire 2017
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