- Tandem Diabetes Care Inc TNDM has agreed to acquire AMF Medical SA, the privately held Swiss developer of the investigational Sigi Patch Pump.
- It is designed to be an ergonomic, rechargeable patch pump that reduces the burden of managing diabetes through its use of pre-filled insulin cartridges and its compatibility with automated insulin delivery technology.
- The acquisition expands Tandem's type 1 and type 2 addressable market opportunities.
- Tandem Diabetes Care will acquire AMF Medical under the following financial terms of the agreement:
- A previous strategic investment of CHF 8.0 million was paid in Q3 of 2022.
- A cash payment of CHF 62.4 million is due at closing.
- Additional contingent earnout payments of up to CHF 129.6 million, in aggregate, are payable upon achieving certain milestones.
- The transaction is expected to close in January 2023.
- Price Action: TNDM shares are down 3.40% at $42.16 on the last check Tuesday.
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