Medtronic (MDT) is consistently working on expanding access to and improving diabetes management via new and enhanced products and services.
Medtronic’s diabetes segment was the only business segment that reported sales growth in its fiscal 1Q17. For more details on Medtronic’s fiscal 1Q17 earnings, check out Medtronic’s 1Q17 Earnings Were in Line, but What about Revenue?
On September 1, 2016, the FDA approved Medtronic’s Enlite sensor for use with its iPro2 Professional CGM (continuous glucose monitoring) system.
The iPro2 CGM system is a continuous monitoring system that provides a physician with insight into a diabetes patient’s glucose profile, enabling better diabetes management led by better-informed decisions. The system consists of a sensor and a recorder, the data from which is uploaded into iPro software for interpretation and analysis.
Enlite sensor benefits
The Enlite sensor is a disposable sensor that’s around 69% smaller than the other sensors currently being used by patients with the iPro2 CGM system. Moreover, it’s comparatively easier to insert and more comfortable. According to studies, more than 70% of patients reported that Enlite sensors were easier and more comfortable to use.
The sensor measures and records the patient’s glucose levels every five minutes for 24 hours a day for up to a maximum of six days. More frequent measurements help readings provide better information on both high glucose (hyperglycemia) and low glucose (hypoglycemia) fluctuations. Thus, a better diabetes management plan can be worked out by the physician and the patient.
Medtronic has recently partnered and collaborated with companies including Qualcomm (QCOM), Henry Schein (HSIC), and IBM (IBM) for the expansion and advancement of diabetes care and management therapies. The Health Care Select Sector SPDR ETF (XLV) has ~4.4% of its total holdings in Medtronic.