Tandem Diabetes Acquires Swiss Based Insulin Patch Pump Developer

Tandem Diabetes Care Inc (NASDAQ: TNDM) has agreed to acquire AMF Medical SAPrivately held Swiss developer of the Sigi Patch Pump.
It is an ergonomic, rechargeable and comfortable patch pump.
Tandem’s Type 1 and Type 2 market opportunities will be further expanded with this acquisition.
AMF Medical will be purchased by Tandem Diabetes Care as per the following financial terms:
In Q3 2022, a previous strategic investment in the amount of CHF 8.2 million was made.
At closing, a cash payment of CHF62.4 million will be made.
Additional contingent earnout payments up to CHF 129.5 million are available upon reaching certain milestones.
The transaction is expected closing in January 2023.
Price Action TNDM shares are now at $42.16, down 3.40% since Tuesday’s last check.

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