Tandem Diabetes Care Acquires Sugarmate, a Popular Mobile App for People with Diabetes
June 24 2020 - 8:00AM
Business Wire
Tandem Diabetes Care, Inc. (NASDAQ: TNDM), a leading insulin
delivery and diabetes technology company, today announced its
acquisition of Sugarmate, a popular mobile app for people with
diabetes who use insulin. Sugarmate will become a wholly owned
subsidiary of Tandem Diabetes Care, and will continue to be led by
its founder, Josh Juster who has joined the Company as Vice
President, Sugarmate. Financial terms of the acquisition were not
disclosed.
The Sugarmate™ app (www.sugarmate.io) is designed to help people
with diabetes visualize diabetes therapy data in innovative ways.
It allows users to log glucose data and health and nutrition
information, and can provide notifications and alerts to users,
their family, and their caregivers.
“Our acquisition of Sugarmate represents an exciting addition to
our digital offerings, and supports Tandem’s strategic vision to
expand our ecosystem of diabetes-related products and services,”
said John Sheridan, Tandem Diabetes Care president and chief
executive officer. “We look forward to further advancing our mobile
health offerings and continuing to develop and introduce new app
features that benefit the broader community of people with
diabetes, including the nearly 30,000 current Sugarmate users on
pumps and multiple daily injections.”
“Sugarmate was founded as a way to help others in the diabetes
community get the most out of their data and is the result of a
passion for diabetes technology and consumer software development,”
said Josh Juster, founder of Sugarmate. “Joining Tandem, a company
that shares these passions, is a natural next step for Sugarmate,
and will help us continue to build new features and functions for
our current and future users.”
Information for Current Sugarmate App Users
Sugarmate will continue to serve its current customers and
operate as a standalone entity in the near term. Sugarmate app
users, and anyone wanting to use the app, will continue to go
through the Sugarmate app and website for information and support.
Tandem is committed to continuing to support the Sugarmate app user
community with innovative data tools, regardless of their choice of
therapy.
Information for Current Tandem Customers
The Sugarmate app is not intended to replace the t:connect®
mobile app, which is expected to launch for t:slim X2™ pump users
this summer. The t:connect mobile app is being developed as a
discreet secondary display for t:slim X2 pump users to view pump
data on their mobile device and wirelessly upload therapy data to
the cloud-based t:connect web application.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com) is a medical
device company dedicated to improving the lives of people with
diabetes through relentless innovation and revolutionary customer
experience. The Company takes an innovative, user-centric approach
to the design, development and commercialization of products for
people with diabetes who use insulin. Tandem manufactures and sells
the t:slim X2 insulin pump with Control-IQ technology. The t:slim
X2 pump is capable of remote feature updates using a personal
computer. Tandem is based in San Diego, California.
The t:connect mobile app is intended to be a secondary display
for compatible Tandem Diabetes Care insulin pumps and is capable of
wirelessly uploading pump data it receives into the t:connect web
application. The t:connect mobile app is not intended to control an
insulin pump and is not intended to be a replacement for the
information displayed on your insulin pump. Dosing decisions should
not be made based on the t:connect mobile app. Dosing decisions
should not be made based on this secondary display device. The user
should follow instructions on the continuous glucose monitoring
system, as well as the insulin pump. This secondary display device
is not intended to replace self-monitoring practices as advised by
a physician
The Sugarmate app has not been evaluated by the U.S. Food and
Drug Administration.
Tandem Diabetes Care and t:connect are registered trademarks,
and t:slim X2, Control-IQ and Sugarmate are trademarks of Tandem
Diabetes Care, Inc. All third-party marks are the property of their
respective owners.
Forward Looking Statement
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that concern matters that involve risks and uncertainties
that could cause actual results to differ materially from those
anticipated or projected in the forward-looking statements. These
forward-looking statements relate to, among other things, the
Company’s future development of new diabetes-related products and
services, the Company’s advancement of mobile health offerings,
including its continued development and introduction of new app
features, the expectation that Sugarmate will continue to build new
features and functions for its users, the ability of the Company to
successfully support Sugarmate app users, and the timing of the
launch of the t:connect mobile app. These statements are subject to
numerous risks and uncertainties, including the Company’s ability
to innovate and manage growth, the Company’s ability to
successfully integrate the Sugarmate app into the Company’s
diabetes-related products and services, the Company’s ability to
successfully launch the t:connect mobile app, and uncertainties
regarding market conditions impacting the Company’s business and
industry, including as a result of impacts and disruptions caused
by the COVID-19 global pandemic, as well as other risks identified
in our most recent Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q, and other documents that we file with the Securities
and Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. Tandem undertakes no obligation to
update or review any forward-looking statement in this press
release because of new information, future events or other
factors.
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version on businesswire.com: https://www.businesswire.com/news/home/20200624005260/en/
Tandem Diabetes Care Contact Information: Media: Steve
Sabicer, 714-907-6264, ssabicer@thesabicergroup.com Investors:
Susan Morrison, 858-366-6900 x7005, IR@tandemdiabetes.com
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