Sensile Medical was founded in 2004 and develops micropumps to deliver liquid medicines. Designed for use by patients at home to reduce time spent in hospital, the pumps are worn on the skin, where they inject drugs at the optimal dosage.
The privately owned Olten company has now been acquired by Gerresheimer, announced a statement. Gerresheimer manufactures both packaging for medicines and products to administer medication.
According to the statement, the German company will pay a maximum purchase price of 350 million euros depending on the attainment of contractually specified milestones. The initial payment is 175 million euros.
“This transaction represents a key milestone in Sensile Medical’s growth strategy,” commented Derek Brandt, CEO of Sensile Medical, in a statement published by his company. With the acquisition, Sensile Medical will become part of an internationally active company that has a strong focus on the pharma industry.
Andreas Schütte, member of the board at Gerresheimer, told the “Neue Zürcher Zeitung” that there were plans to expand Sensile Medical’s offices in Olten. Gerresheimer also has other ambitions for the Olten company: the aim is to increase its current turnover of 15 million euros to 200 million euros by 2022, with Sensile Medical set to benefit from Gerresheimer’s relationship with many big pharma companies.
The news comes following Sensile Medical’s recent announcement of a partnership with the pharma company Sanofi and Verily (formerly Google Life Science). The partners aim to develop and market a new insulin pump.
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