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Cellnovo and Home Diagnostics, Inc. Form Strategic Alliance


5/6/2010 7:34:53 AM

LONDON & FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Building on a shared vision to simplify diabetes management worldwide, Cellnovo, a London-based medical device company, and Home Diagnostics, Inc., a leader in diabetes products, today announced a strategic alliance that involves integrating technologies and developing distribution opportunities for Cellnovo’s insulin patch pumps.

The partnership allows both companies to accelerate their growth and has the potential to transform the pump industry. The first phase of the agreement calls for the inclusion of Home Diagnostics TRUE™ blood glucose technology in the Cellnovo wireless mobile handset. The companies will also begin exploring ways to leverage Home Diagnostics’ distribution network to expand Cellnovo’s presence in the United States and other countries.

“We are extremely excited about our partnership with Home Diagnostics,” said Bill McKeon, Chief Executive Officer of Cellnovo. “On a technical level, it will provide our customers with the most advanced blood glucose monitoring technology available today within our mobile handset. From a business perspective, it provides an extensive distribution network that includes 45,000 points of distribution, leading insurance companies and major product order suppliers.”

The Home Diagnostics blood glucose unit will operate as a built-in meter within the Cellnovo handset, enabling patients to monitor their blood sugar using touchscreen controls and TRUEresult™ and TRUEtest™ Test Strips. Like all information in the handset, the glucose readings will be automatically stored and sent wirelessly to physicians, clinicians and family members.

“Our agreement with Cellnovo allows us to leverage the emerging opportunities in the insulin pump market through the most innovative pump system in the industry,” said Joseph H. Capper, Home Diagnostics’ President. “We look forward to helping Cellnovo bring the convenience, ease-of-use and wireless capabilities of their visionary product to diabetes patients throughout the U.S. and beyond.”

The Cellnovo pump, which is available in three models, is the industry’s smallest patch pump and the first to offer wireless, touchscreen operation. With the integration of the Home Diagnostics blood glucose meter, patients can monitor their glucose levels using the same handset that records their insulin use, daily meals and activity levels, making diabetes management easier and more accurate.

“The combination of Home Diagnostics’ leadership technology and its significant distribution channels positions us to not only drive new advancements in health care, but to also bring greater freedom and convenience to diabetes patients worldwide,” said McKeon.

About Cellnovo, Inc.

Cellnovo Limited is an innovative medical device company based in London, UK. Cellnovo has developed and produced the world’s first wireless touchscreen insulin patch pump system for diabetes management. With its novel technology platform, Cellnovo is committed to providing freedom and ease-of-use to people living with diabetes and to providing the healthcare professional a means to better manage a patient’s disease. Cellnovo’s technology platform benefits all constituencies – the patient, the provider and the payer – by enabling efficient insulin delivery and management, while also providing industry first mobile-enabled connectivity and real-time event tracking. Cellnovo lead investors are Advent Venture Partners and Heathcare Ventures. For further information, please visit www.cellnovo.com.

About Home Diagnostics

Based in Fort Lauderdale, Florida, Home Diagnostics, Inc. is a leading developer, manufacturer and marketer of diabetes management products. Home Diagnostics offers a portfolio of high-quality blood glucose monitoring products and systems available throughout the world. Home Diagnostics is the exclusive co-brand supplier of blood glucose monitoring systems for leading pharmacies including CVS, Rite Aid and Walgreens, as well as distributors such as AmerisourceBergen, Cardinal Health, McKesson, Invacare and Liberty Medical. For more information, please visit www.homediagnostics.com.

Contact:

Cellnovo Jahida Mirza, +44-2030581250 info@cellnovo.com or Home Diagnostics, Inc. Lynne Brown, 954-677-9201 x3 053 lbrown@hdidiabetes.com




   

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