Abbott (NYSE: ABT) has officially finalized its acquisition of Bigfoot Biomedical, a renowned innovator in the field of intelligent insulin management systems designed for individuals living with diabetes.

This strategic move signifies Abbott's deepening commitment to enhancing diabetes care, bolstering its renowned FreeStyle Libre® range of continuous glucose monitoring technology, and advancing its mission to create interconnected solutions for achieving increasingly tailored and precise diabetes management.

Following the closure of the acquisition, Bigfoot has seamlessly transitioned into a wholly owned subsidiary of Abbott, as per the terms outlined in the merger agreement. Specific financial details of the transaction have not been disclosed.

Source: prnewswire.com