Abbott Forms Alliance With Omada Health For Diabetes Care
Zacks Investment Research | Oct 14, 2019 09:10PM ET
Abbott Laboratories (NYSE:ABT) announced that it is collaborating with Omada Health to integrate Abbott’s FreeStyle Libre system with Omada’s revolutionary digital care program. This aims at creating a new paradigm for Type 2 diabetic patients.
Abbott’s management believes that given the positive outcome of FreeStyle Libre, it will be successful in providing a customized treatment, combining Abbott's flagship FreeStyle Libre system, and Omada’s professional coaching and digital platform.
With the partnership, Abbott aims to further consolidate its position in the global continuous glucose monitoring (CGM) technology market.
Few Words on FreeStyle Libre
The FreeStyle Libre system is a CGM device, which is globally used to monitor real-time glucose levels in diabetic patients. It is connected with a secure cloud-based diabetes management system (LibreView), thus obtaining clear and comprehensive health reports.
Rationale Behind the Partnership
Currently, more than 30 million Americans are diabetic, of which approximately 95% have been diagnosed with Type 2 diabetes. These patients look for simple ways to manage their conditions and overall health.
How Does This Work?
Per the agreement, eligible Type 2 diabetic patients will be guided through a personalized experience, which includes an online physician consultation, obtaining a prescription of Freestyle Libre and a welcome kit — including the CGM system and a wireless scale.
The integrated solution to be provided will have the respective company’s mechanisms, which in turn, will be linked to the patient’s smartphones for better health management. The program includes features that will help in tracking and managing the disease.
Recent Developments
Abbott collaborated with biopharmaceutical major, Sanofi (NASDAQ:SNY) , in September 2019, where Freestyle Libre will be integrated with glucose sensing and insulin delivery technologies of Sanofi, thus augmenting patient care.
Abbott also received public reimbursement in the two largest provinces of Canada, namely Ontario and Quebec, in September 2019. With the reimbursement approval, FreeStyle Libre became the first sensor-based glucose monitoring system to be listed by any provincial health plan in Canada.
Get The News You Want
In June 2019, the company was upbeat while announcing a favorable outcome on the analysis on hemoglobin A1c (HbA1c) levels in patients with Type 2 diabetes who are undergoing intensive insulin therapy.
Industry Prospects
Per a report by Zacks Investment Research
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