Abbott to acquire Bigfoot Biomedical

ABBOTT PARK, Ill. and MILPITAS, Calif. – Abbott will acquire Bigfoot Biomedical, a developer of smart insulin management systems. 

Abbott  and  Bigfoot have worked together on connected diabetes solutions since 2017.  Bigfoot developed Bigfoot Unity, a smart insulin management system that works exclusively with Abbott's FreeStyle Libre technology and includes a customer smartphone app connected to a cloud-based online portal used by health care providers to support their patients, including through remote care. The system, which features connected smart pen caps that recommend insulin doses for people using multiple daily injections, works with FreeStyle Libre 2 sensors and all major brands of long-acting and rapid-acting disposable insulin pens offered in the United States.  

"The acquisition of Bigfoot Biomedical will combine two leaders in different aspects of diabetes care: continuous glucose monitoring and insulin dosing support," said Jared Watkin, senior vice president of Abbott's Diabetes Care business. "Bringing our companies together will allow us to further develop connected solutions for making diabetes management even more personal and precise." 

Both companies “share a vision,” says Jeffrey Brewer, CEO of Bigfoot. 

"Bigfoot Biomedical is the first company to design, develop and deliver a novel insulin delivery solution built around continuous glucose monitoring," said Brewer. "We selected Abbott as our CGM partner because both companies share a vision to provide simple, affordable and easy-to-use tools for people with diabetes. We look forward to continuing to innovate together and to the scale Abbott can provide, bringing Bigfoot Unity to as many people who may benefit." 

The transaction is expected to close in the third quarter of 2023. Financial terms were not disclosed.