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Insulet pays $63M for Woburn's Neighborhood Diabetes

Mon, 06/06/2011 - 5:36am
Mass High Tech: The Journal of New England Technology

Insulet Corp., maker of an insulin pump device, late last week purchased Woburn-based medical equipment distributor Neighborhood Diabetes Inc. in a cash and stock deal worth approximately $63 million.

Duane DeSisto, president and CEO of Insulet, said in a statement that buying Neighborhood Diabetes gives Bedford-based Insulet (Nasdaq: PODD) that ability to sell “additional diabetes management supplies” to it existing customers. In addition, Neighborhood Diabetes has more than 15,000 insulin-dependent customers, according to Insulet officials.

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