Medtronic Announces Outcomes-Based Agreement with Aetna for Type 1 and Type 2 Diabetes Patients
June 26 2017 - 9:00AM
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)
Medtronic is working together with the global community to change
the way people manage diabetes. The company aims to transform
diabetes care by expanding access, integrating care and improving
outcomes, so people living with diabetes can enjoy greater freedom
and better health.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is among the world's largest medical technology, services
and solutions companies - alleviating pain, restoring health and
extending life for millions of people around the world. Medtronic
employs more than 88,000 people worldwide, serving physicians,
hospitals and patients in approximately 160 countries. The company
is focused on collaborating with stakeholders around the world to
take healthcare Further, Together.
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.
-end-
*MiniMed 670G is approved for type 1 ages 14 and over.
Prescription required. WARNING: May not be safe < 7 or using
< 8 units insulin/day. See bit.ly/670gRisks. |
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.
Contacts:
Janet Kim
Global Communications
+1-818-576-5014
Ryan Weispfenning
Investor Relations
+1-763-505-4626
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
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