Tandem Diabetes Care Inc.
an insulin delivery and diabetes technology company, said Tuesday it has entered a definitive agreement to acquire AMF Medical SA, a Swiss privately held maker of the Sigi Patch Pump. The pump is currently under development and is not commercially available. “It is designed to be an ergonomic, rechargeable patch pump that reduces the burden of managing diabetes through its use of pre-filled insulin cartridges and its compatibility with automated insulin delivery technology,” the San Diego-based Tandem said in a statement. Tandem will pay 62.4 million Swiss francs ($66.4 million) upon closing, as well as a previous investment of 8 million Swiss francs, and up to 129.6 million francs of earnout payments upon achievement of certain milestones. The deal is expected to close in January. Tandem stock was not active premarket, but has fallen 71% in the year to date, while the S&P 500
has fallen 16%.