Abbott completes Bigfoot Biomedical acquisition

Abbott has completed its acquisition of Bigfoot Biomedical, making Bigfoot a wholly-owned subsidiary of Abbott. The financial terms of the deal were not disclosed. 

This acquisition follows a longstanding relationship between the two companies, dating back to 2017 when Abbott led a financing round for Bigfoot. Bigfoot is known for developing the Bigfoot Unity smart insulin management system, which simplifies continuous glucose monitors (CGMs) and works exclusively with Abbott's FreeStyle Libre CGM technology. 

The system includes a smart insulin pen cap that provides insulin dosage recommendations based on CGM data, a customer smartphone app, and a cloud-based portal for healthcare providers. 

This move is seen as an expansion of Abbott's presence in diabetes care and reinforces its commitment to developing connected solutions for diabetes management. Jared Watkin, SVP of Abbott's Diabetes Care business, emphasised that the acquisition combines the strengths of both companies in continuous glucose monitoring and insulin dosing support.