DexCom Announces Acquisition of SweetSpot Diabetes Care
2/24/2012 6:55:59 AM
SAN DIEGO--(BUSINESS WIRE)--DexCom, Inc. (Nasdaq:DXCM) announced today that it has entered into a definitive agreement to acquire SweetSpot Diabetes Care, Inc., a healthcare-focused information technology company, in an all stock transaction, with initial consideration of up to $4.5 million and performance milestone-based earnout consideration of up to an additional $4 million. SweetSpot has an advanced cloud-based platform for uploading and processing data and specializes in turning raw output from patient devices into powerful information for healthcare providers, patients and researchers. The SweetSpot platform is comprised of the 510(k) cleared SweetSpot Diabetes Data Management Service, a secure end-to-end solution for diabetes data management, automating the retrieval of data from numerous patient devices; managing, processing and storing data in the cloud; and integrating into electronic medical records and other clinical systems for information delivery. The platform is vendor-neutral and data from most common blood glucose meters can be retrieved during a step-by-step session at a physical kiosk in a clinic or through a web-based application. As we work with SweetSpot to build out the platform, we expect to incorporate CGM and insulin data with simplified reporting capabilities and easy, secure data access for patients and their healthcare providers.