Tandem Diabetes Acquires Swiss Based Insulin Patch Pump Developer

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  • 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.

More information from Benzinga

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