In the age of technology, it’s always about the next big product that has more features crammed into a slimmer device. Well, a small company that you might have heard of, Google, is partnering up with diabetes market juggernaut Dexcom, known for its CGM development, with the hopes of revolutionizing diabetes care, a Fierce Medical Devices article reports.
Their aim is to create a disposable, bandage-sized blood glucose sensor that combines Dexcom’s CGM knowledge and Google’s cloud storage technology. If successful, the partnership will not only expand Dexcom’s CGM capabilities, but also benefit Google’s life science division, a branch of the company’s Google X division that focuses on technological advancements in the medical field.
On the financial side, Dexcom is paying Google $100 million in installments during the product development process. And while Dexcom will have sales and distribution rights, they will pay Google royalties for products that surpass $750 million in sales.
Currently, Dexcom is working to get FDA approval for its newest CGM, the Gen 5 mobile system. The company is also experiencing a great deal of success from their recent Warrior campaign, featuring celebrity endorser and musician Nick Jonas. And with Google putting out more and more health-related products, thanks to their secretive Google X advancements, the two are hopeful that this partnership will expand their reach in the healthcare maintenance industry.
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