MTD (Medical Technology and Devices), a leading provider of medical technology solutions for self-care and professional use worldwide, announces the acquisition Ypsomed's pen needle and blood glucose monitoring (BGM) businesses. This strategic move solidifies MTD's position as a globally leading player in pen needle production and enhances its comprehensive solution portfolio for diabetes care.

MTD, the second largest manufacturer of pen needles globally, will incorporate in its operations the pen needle and BGMs portfolio from Ypsomed - a leading developer and manufacturer of injection and infusion systems for self-medication for 40 years.

Charles Bouaziz, CEO of MTD, expresses enthusiasm for the partnership with Ypsomed and the opportunities it brings. "This acquisition will enable us to accelerate growth and enter new strategic markets, leveraging a broader product portfolio combining the 6-bevels and click technologies from Ypsomed and MTD's thinnest and shortest 34G pen needle. We will integrate Ypsomed's pen needles operations and BGMs' commercialization into our European production and distribution sites, contributing to scale efficiencies and benefiting from our category expertise, says Charles Bouaziz, CEO of MTD.

"This acquisition enables MTD to open new, strategic markets, such as Germany, expand into high growth markets like China and India and strengthen our position in other important markets such as North America and France, reinforcing our commitment to supporting millions of diabetic patients, caregivers, and healthcare professionals worldwide."

The closing of the transaction and thus the transfer of the business with pen needles and blood glucose monitoring systems is expected in summer 2024, after which the transition will begin, and is subject to customary conditions.