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|Medtronic and Chengdu Sign Insulin Pump Manufacturing Agreement|
New Agreement Will Help Expand Access to Advanced Diabetes Therapies in China
DUBLIN and CHENGDU, China - January 11, 2016 - Medtronic plc (NYSE:MDT), the global leader in medical technology, has formed a partnership with the Chengdu municipal government to manufacture and deploy advanced diabetes therapies in Chengdu, China.
As part of the agreement, Medtronic will invest in a manufacturing facility for a next generation sensor augmented pump system with SmartGuard(TM) technology to help provide better diabetes management for the growing diabetes population in China. In addition, Medtronic will partner with the Chengdu government to enable people with diabetes in Chengdu and the broader Sichuan province to access this new, locally produced technology with software displayed in Chinese language.
The commitment follows upon a strategic partnership agreement signed by Medtronic and the city's municipal government last September. The earlier deal commits both the Chengdu municipal government and Medtronic to expand access to proven therapies, particularly solutions for diabetes management, in China as well as other countries.
The manufacturing facility is the second Medtronic plant announced in Chengdu over the past 18 months, when the company publicized a plan to establish its first factory worldwide for portable hemodialysis equipment in August 2014.
"Medtronic and Chengdu share a commitment to transform diabetes care through advanced therapies that can provide greater freedom and better health to over one hundred million people living with diabetes in China1," said Alejandro Galindo, president of the Intensive Insulin Management Business in the Diabetes Group at Medtronic. "By manufacturing both advanced insulin pumps and hemodialysis products in Chengdu, we will benefit from the expertise of this global medical technology hub, while expanding access of our innovative therapies to China's growing population."
"The latest agreement marks another milestone in collaboration between Chengdu and Medtronic and confirms the potential of a public private partnership to improve health and quality of life for underserved diabetes population in China and beyond,"said Yuan Zongyong, deputy director of Chengdu High Tech Zone.
About the Diabetes Group at Medtronic (www.medtronicdiabetes.com)
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
1 114 million people have diabetes in China according to the International Diabetes Federation