|Medtronic Announces Outcomes-Based Agreement with Aetna for Type 1 and Type 2 Diabetes Patients|
DUBLIN - June 26, 2017 - Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced a new outcomes-based agreement with Aetna (NYSE:AET) for type 1 and type 2 diabetes patients currently on multiple daily insulin injections for their diabetes management. The agreement will measure health outcomes for those patients that choose to transition to pump therapy using a Medtronic insulin pump featuring SmartGuard(TM) Technology, including the new MiniMed(TM) 670G system* - the first and only system that constantly self-adjusts to keep patients' blood sugar levels in range based on their personalized needs.1
"This agreement reinforces our shift towards value-based healthcare. We know technology alone isn't enough and ultimately, improved outcomes are what matter," said Hooman Hakami, president of the Diabetes Group at Medtronic. "Our goal is to continue to lead by driving innovation that demonstrably improves patient outcomes, elevates patient experience and lowers the total cost of care. We have the only insulin delivery systems in the world that take action based on sensor values. The growing body of clinical evidence demonstrating the benefits of our proprietary SmartGuard(TM) Technology is compelling and we are pleased to work with Aetna to drive awareness and align incentives around the technologies that make the biggest difference for patients and for the health system."
This outcomes-based agreement continues to provide Aetna members access to Medtronic's advanced diabetes technologies and comprehensive support services, including the new MiniMed 670G system.2 The agreement ties a component of Medtronic's reimbursement to successfully meeting agreed-upon clinical improvement thresholds for Aetna members with type 1 and type 2 diabetes who choose to transition from multiple daily injections to a Medtronic insulin pump, with the goal of elevating patient experience, improving clinical outcomes and lowering the total cost of care.
"We are pleased to be working with a leader in the healthcare space who is aligned with our goal of transforming diabetes care for the benefit of patients so they can live with greater freedom and better health," said Suzanne Winter, group vice president of the Americas, Diabetes Group, Medtronic. "This agreement is an important first step as we look to broadening our partnership to facilitate patient access to the most advanced diabetes management solutions across the care continuum that not only ensure outcomes, but lower the overall cost of care for this chronic and burdensome disease."
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 Refers to Auto Mode feature; The MiniMed 670G System can automatically increase or decrease insulin delivery when informed by continuous glucose monitoring (CGM) values; however, the user must still calculate and administer meal boluses.