Swiss company Ascensia Diabetes Care, founded several years ago as a result of the merger of Bayer Health's diabetes division and Panasonic Healthcare, officially enters the systems market.
Ascensia will launch a version of the POCTech device this year, and then collaborate on the joint development of the next generation.
By the end of the year, the partners intend to certify and launch a version of the POCTech CGM device under the Ascensia brand in Europe. In the long run, Ascensia, which has been working on its own CGM system, will work with POCTech to develop a new generation product.
According to Ascensia CEO Michael Kloss,
Of course, we have our own project to create a CGM solution. But with the new partnership, we will be able to expand our market share faster, as well as combine different components into a single product to develop the best solutions.
Continuous sugar monitoring systems are a fast-growing and competitive market, especially in Europe, where companies such as Abbott and Senseonics seek to maximize their share. Ascensia will to some extent fight for market share with these companies, as well as with Dexcom and Medtronic. At the same time, representatives of this company believe that the company's existing big business in the field of traditional blood glucose monitors, as well as digital technologies for the treatment of diabetes, will help it compete.
