Medical technology firm Medtronic has agreed to acquire nutrition-related data services, analytics and technologies provider, Nutrino Health, for an undisclosed sum.
Nutrino has developed food database and nutrition data insights platform, which collates data from millions of access points and food items across the globe.
The company enables people discover their FoodPrint, a personalized assessment of their personal response to different foods.
Nutrino Health CEO Yael Glassman said: “The Nutrino team is passionate about personalized nutrition data services and technologies. Our work in the diabetes space is helping to address the needs of a growing population that needs better tools and guidance.”
The acquisition will allow Medtronic to integrate Nutrino’s food analysis infrastructure, nutrition science expertise and artificial intelligence (AI)-driven personalized insights with its technology and future innovations for effective diabetes management.
Once the deal concludes, Medtronic will add Nutrino’s comprehensive food database, food analysis system and nutrition-science expertise to its capabilities.
Nutrino is also engaged in the development of algorithms, which can predict glycemic responses to food.
Medtronic intends to reduce physical and mental burden of food and nutrition management for diabetes people by leveraging Nutrino’s technology and infrastructure with continuous glucose monitoring (CGM) and major closed loop systems.
The current deal is based on a relationship originated in June 2016. Nutrino has assisted Medtronic in the introduction of various products in the US, including updated iPro 2 myLog app used with professional CGM solution and the Sugar.IQ diabetes assistant app used with the Guardian connect smart CGM system.
Subject to customary closing conditions, the deal is expected to complete in Medtronic’s third fiscal quarter.
Medtronic diabetes group president and executive vice president Hooman Hakami said: “Bringing Nutrino and their nutrition-related expertise into our organization will give us a substantial differentiator in the diabetes industry and accelerate our progress to help people with diabetes live with greater freedom and better health.
“The Nutrino team has been an outstanding partner over the past few years. We are excited to welcome them to our team, and I have no doubt that, together, we will make a profound impact on the lives of people with diabetes.”