Medtronic Plc MDT said Thursday it’s acquiring South Korean insulin patch company EOFlow Co. Ltd. KR:294090 in a deal valued at about $738 million. The EOPatch is a tubeless, wearable and disposable insulin delivery device, which Medtronic plans to combine with its meal detection technology algorithm and continuous glucose monitor to “expand the company’s ability to address the needs of more individuals with diabetes, no matter where they are in their treatment journey or preference for how they want their insulin delivered,” Medtronic said. The deal comes about 12 years after EOFlow launched. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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