Glooko's mission is to integrate data from existing diabetes devices into an app for patients and a population management platform for payers and healthcare providers. It started out with blood glucose monitors and now works with more than 30 of them that represent more than 90% of the market. Now, it's diving into continuous glucose monitors and insulin pumps with a pair of deals--one for the Dexcom ($DXCM) CGM and the other for the Insulet ($PODD) OmniPod pump.
The startup plans to deliver its next-generation product this summer that will pull data from each of these devices, in addition to many others, into its app and population management platform. The expectation is that the Glooko data will help patients and physicians monitor and manage diabetes more closely, thereby potentially improving outcomes and reducing costs.
"We believe that Glooko's platform, which accesses Dexcom data through our 'open architecture,' can be a very meaningful tool for our patients to manage their diabetes," said Dexcom CEO Kevin Sayer in a statement.
|The Glooko MeterSync Blue app--Courtesy of Glooko|
Seconded Insulet President and CEO Patrick Sullivan, "Now OmniPod patients will have the ability to view their insulin delivery, blood glucose and CGM data together."
Glooko recently nabbed a $16.5 million Series B that included Medtronic ($MDT) as a backer. The financing was designed to underwrite precisely this technological expansion.
By year end, Glooko expects its technology will be able to connect more than 93% of diabetes devices, the company's CEO, Rick Altinger, told FierceMedicalDevices in an interview earlier this year.
Medtronic roughly splits the CGM market with the more Internet-savvy Dexcom, which has already launched a docking station to digitally connect its devices. Insulin pumps are dominated by four top players: Medtronic, Insulet, Johnson & Johnson ($JNJ) with its Animas pump and Tandem Diabetes Care ($TNDM).
If it can corner the market on diabetes data, as it plans, the next challenge for the startup will be to demonstrate that its data is useful at an individual patient and population level for patients, healthcare providers and payers.
- here is the release