Medtronic acquires Nutrino Health to augment diabetes capabilities with Nutrino’s nutritional database and data science.
Medtronic, a provider of medical technology announced it will acquire Tel Aviv-based Nutrino Health, a provider of nutrition-related data services, analytics, and technologies. For Medtronic, the acquisition is an opportunity to improve clinical outcomes for people with diabetes through the integration of Nutrino’s extensive food analysis infrastructure, nutrition science expertise and artificial intelligence (AI)-driven personalized insights with Medtronic’s technology and future innovations.
Founded in 2011 by Yaron Hadad, Jonathan Lipnik and Eduard Ros, Nutrino provides artificial intelligence analysis of how nutritional intake will affect a person’s health. Nutrino’s offerings include leading food database and nutrition data insights platform, collating data from millions of access points and food items globally. Nutrino helps people discover their FoodPrint, a personalized assessment of their personal response to different foods.
Medtronic Integration with Nutrino
As part of the acquisition, Medtronic will add Nutrino’s comprehensive food database, food analysis system and nutrition-science expertise to its capabilities, upon closing of the transaction. In addition, Nutrino has been developing algorithms to predict glycemic responses to food. By leveraging Nutrino’s technology and infrastructure with continuous glucose monitoring (CGM) and industry-leading closed loop systems, Medtronic can help reduce the substantial physical and mental burden of food and nutrition management for people with diabetes.
This transaction will build on a relationship originated in June 2016. Nutrino played a role in recent U.S. product introductions from Medtronic, including the updated iPro(TM)2 myLog app used with professional CGM solutions as well as the Sugar.IQ(TM) diabetes assistant app used with the Guardian(TM) Connect smart CGM system.
Financial Details
Financial details of the acquisition were not disclosed and are expected to close in Medtronic’s third fiscal quarter, ending January 25, 2019, subject to the satisfaction of certain customary closing conditions. The transaction is expected to be neutral to the fiscal year 2019 earnings per share and meet Medtronic’s long-term financial metrics for acquisitions.
“Bringing Nutrino and their nutrition-related expertise into our organization will give us a substantial differentiator in the diabetes industry and accelerate our progress to help people with diabetes live with greater freedom and better health,” said Hooman Hakami, executive vice president and president of the Diabetes Group at Medtronic. “The Nutrino team has been an outstanding partner over the past few years. We are excited to welcome them to our team, and I have no doubt that, together, we will make a profound impact on the lives of people with diabetes.”
