MTD acquires Ypsomed's pen needle and BGM businesses, strengthening its leading position in diabetes care
MILAN, March 27, 2024 /PRNewswire/ -- MTD (Medical Technology and Devices), a leading provider of medical technology solutions for self-care and professional use worldwide, announces the acquisition Ypsomed's pen needle and blood glucose monitoring (BGM) businesses. This strategic move solidifies MTD's position as a globally leading player in pen needle production and enhances its comprehensive solution portfolio for diabetes care.
MTD, the second largest manufacturer of pen needles globally, will incorporate in its operations the pen needle and BGMs portfolio from Ypsomed - a leading developer and manufacturer of injection and infusion systems for self-medication for 40 years. Recognizing the strong technologies and trademarks associated with Ypsomed's pen needle business, the combination of both companies' portfolios will ensure the long-term availability of a unique and innovative pen needle offering, manufactured exclusively in Europe, leveraging MTD's scale efficiencies.
Charles Bouaziz, CEO of MTD, expresses enthusiasm for the partnership with Ypsomed and the opportunities it brings. "This acquisition will enable us to accelerate growth and enter new strategic markets, leveraging a broader product portfolio combining the 6-bevels and click technologies from Ypsomed and MTD's thinnest and shortest 34G pen needle. We will integrate Ypsomed's pen needles operations and BGMs' commercialization into our European production and distribution sites, contributing to scale efficiencies and benefiting from our category expertise, says Charles Bouaziz, CEO of MTD.
"This acquisition – continues Bouaziz - enables MTD to open new, strategic markets, such as Germany, expand into high growth markets like China and India and strengthen our position in other important markets such as North America and France, reinforcing our commitment to supporting millions of diabetic patients, caregivers, and healthcare professionals worldwide."
The closing of the transaction and thus the transfer of the business with pen needles and blood glucose monitoring systems is expected in summer 2024, after which the transition will begin, and is subject to customary conditions.
Medical Technology and Devices (MTD)
Medical Technology and Devices (MTD) is a leading medical technology group that designs, manufactures, and provides a comprehensive range of medical devices for self-care and professional use worldwide. Formed in 2018 from the merger of Pikdare and HTL Strefa, MTD has long-term and unique expertise in the development of medical sharps, home-use electromedical devices, and products of pharma self-care, distributing around 5 billion medical devices worldwide each year. Research and development are at the heart of the Group's commitment to providing healthcare professionals and individuals with increasingly innovative and safe products. MTD operates (directly or through local subsidiaries and distributors) in over 100 countries and has a state-of-the-art production system with four production plants in Europe (Italy and Poland). The Group, majority owned by Investindustrial and QuattroR SGR, employs around 1,700 people.
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