Medtronic (NYSE:MDT) said today that it inked a deal to acquire nutrition tech company Nutrino Health for an undisclosed amount, with plans on integrating it into the company’s diabetes division.
Nutrino Health provides nutrition-related data services, analytics and technologies, Fridley, Minn.-based Medtronic said. The company added that it plans to integrate Nutrino’s food analysis infrastructure, nutrition science expertise and artificial intelligence-driven personalized insights into its diabetes platform.
“The Nutrino team is passionate about personalized nutrition data services and technologies. Our work in the diabetes space is helping to address the needs of a growing population that needs better tools and guidance. We are excited to now focus completely on the intersection of nutrition and diabetes to help more people be able to better manage their condition,” Nutrino Health CEO Yael Glassman said in a press release.
The purchase will build onto an existing relationship between the companies which began in June 2016, Medtronic said.
“Bringing Nutrino and their nutrition-related expertise into our organization will give us a substantial differentiator in the diabetes industry and accelerate our progress to help people with diabetes live with greater freedom and better health. The Nutrino team has been an outstanding partner over the past few years. We are excited to welcome them to our team, and I have no doubt that, together, we will make a profound impact on the lives of people with diabetes,” Medtronic diabetes group prez Hooman Hakami said in a prepared remark.
Medtronic said that it expects the acquisition to close during the third quarter of its fiscal year 2019, which ends on January 25. The purchase is expected to be neutral to the company’s fiscal year 2019 earnings per share.
Earlier this month, Medtronic touted five-year data for its In.Pact Admiral drug-coated balloon, highlighting the durability and efficacy of its device in people with peripheral artery disease in the superficial femoral and popliteal arteries.
