Last week, Medtronic acquired Nutrino Health, a company that provides data services, analytics and technologies.
Here are five things to know:
1. Nutrino's ability to provide extensive food analysis and nutrition science expertise, coupled with artificial intelligence-driven personalized insights will fit with Medtronic's diabetes management line to help improve clinical outcomes.
2. With the acquisition, Medtronic will add Nutrino's comprehensive food database and other functions to its capabilities in the Diabetes Group. Nutrino is already developing algorithms to predict glycemic responses to food, and Medtronic hopes this will boost nutrition and food management for patients with diabetes.
3. The two companies began a relationship in June 2016, and Nutrino played a role in Medtronic's iPro2 myLog app launch in the U.S.
4. Medtronic expects the acquisition will close by Jan. 25, 2019, the end of the company's third quarter of the 2019 fiscal year. The company expects the transaction to be neutral for the 2019 fiscal year earnings per share, and it expects to meet long-term financial metrics for acquisitions with this news.
5. The terms of the transaction were not disclosed.
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