Medical Technology and Devices (MTD), a prominent provider of medical technology solutions for both self-care and professional applications worldwide, has announced its acquisition of Ypsomed's pen needle and blood glucose monitoring (BGM) businesses. This strategic move further strengthens MTD's position as a global leader in pen needle production and enriches its extensive portfolio for diabetes care solutions.

As the second largest manufacturer of pen needles globally, MTD is set to integrate Ypsomed's pen needle and BGM portfolio into its existing operations. With Ypsomed's legacy of 40 years in developing and manufacturing injection and infusion systems for self-medication, the acquisition brings valuable technologies and trademarks associated with its pen needle business.

This consolidation of portfolios ensures the sustained availability of a distinctive and innovative pen needle offering, exclusively manufactured in Europe, capitalizing on MTD's operational efficiencies. By combining Ypsomed's 6-bevels and click technologies with MTD's thinnest and shortest 34G pen needle, the merged product portfolio promises to accelerate growth and open doors to new strategic markets.

The transaction is slated for closure in summer 2024, initiating the transfer of the pen needle and blood glucose monitoring systems businesses. The transition will commence following the closure, subject to customary conditions.

Source: prnewswire