Ypsomed announced today that it completed the sale of its pen needle and blood glucose monitoring (BGM) businesses to Medical Technology and Devices (MTD).
The Burgdorf, Switzerland-based company first announced an agreement to sell off those businesses to MTD in March. Ypsomed plans to support a reliable transition to ensure pen needle supply amid the business sale. During the transition, it will produce pen needles as a contract manufacturer while providing certain services. The company plans to move production equipment to MTD gradually by mid-2025.
In announcing the initial agreement, Ypsomed also announced a manufacturing expansion at its Solothurn, Switzerland site. There, the company manufactures pumps, among other offerings. After the transfer of manufacturing, the company said it can use the vacant space for new tool-making facilities in Solothurn.
With the sale completed, Ypsomed now intends to focus its diabetes care business on insulin pumps. Mainly, it looks to the further development and marketing of the mylife Loop automated insulin pump solution. As part of its growth strategy, Ypsomed expects to invest more than $110 million in the next four years to expand autoinjector manufacturing capacity.
Sébastien Delarive, chief business officer, diabetes care at Ypsomed, said that “at Ypsomed Diabetes Care, we fully concentrate on innovative insulin pump solutions.”
The completion of this acquisition is a transformative milestone for MTD Group,” said MTD CEO Charles Bouaziz. “It accelerates our growth, opens new strategic markets, and expands our product portfolio, establishing us as the second-largest producer of pen needles worldwide.”
