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Insulet Corporation reports news on its Omnipod product platform for diabetes care, including the Omnipod Insulin Management System and Omnipod 5 Automated Insulin Delivery System. The company’s tubeless disposable Pods provide up to three days of insulin delivery, while Omnipod 5 integrates with continuous glucose monitors and can be controlled through a compatible smartphone in the U.S. or through the Omnipod 5 Controller.
Recurring Insulet developments include quarterly results, Omnipod revenue trends, sensor-connectivity updates, clinical evidence for automated insulin delivery, and research involving fully closed-loop systems for type 2 diabetes. Company updates also cover medical device corrections, product quality actions, executive appointments, conference presentations, and the use of Omnipod technology for non-insulin subcutaneous drug delivery.
Insulet (NASDAQ: PODD) has announced the full market release of the Omnipod 5 App for iPhone in the U.S. The app, available for free on the Apple App Store, allows users to fully control their Omnipod 5 Automated Insulin Delivery System directly from compatible iPhones. Users can now perform essential functions like bolusing for meals, changing Pods, and adjusting settings without carrying a separate Controller. The app includes features like Custom Foods for simplified carbohydrate counting and real-time glucose information on the home screen. The system is currently compatible with the Dexcom G6 CGM System and expected to work with Dexcom G7 CGM in 2025.
The diaTribe Foundation has launched the Spoonful of Laughter campaign, a national initiative using comedy to educate about diabetes, counter stereotypes, and reduce stigma. The campaign features six videos showcasing various comedy styles, highlighting common experiences of people with diabetes. It was co-created with advocates, artists, producers, and five comedians, four of whom have diabetes.
The campaign is supported by Insulet, maker of Omnipod® (NASDAQ: PODD). Research shows that up to 80% of people with diabetes report stigmatizing experiences, leading to worse health outcomes and decreased self-care. The initiative aims to replace inaccurate media representations with positive narratives using comedy as an effective tool for promoting change.
Insulet (NASDAQ: PODD), the global leader in tubeless insulin pump technology, has announced plans to release its financial results for the third quarter of 2024 on November 7, 2024 after the close of the financial markets. The company will host a conference call at 4:30 p.m. (Eastern Time) on the same day to discuss the results.
Investors can access the live call through the Investor Relations section of Insulet's website or by dialing (888) 770-7129 for domestic callers or (929) 203-2109 for international callers, using the passcode 5904836. The call will be archived for future replay on the company's website.
Insulet is known for its Omnipod Insulin Management System, which provides a unique alternative to traditional insulin delivery methods. The company's flagship product, the Omnipod 5 Automated Insulin Delivery System, integrates with a continuous glucose monitor and can be controlled by a compatible personal smartphone in the U.S.
Insulet (NASDAQ: PODD) announced that its Omnipod 5 Automated Insulin Delivery System has received FDA clearance for use in people with type 2 diabetes aged 18 and older in the U.S. This makes Omnipod 5 the first and only AID system approved for both type 1 and type 2 diabetes. The expansion opens up the market to approximately 6 million insulin-requiring type 2 diabetes patients.
The SECURE-T2D clinical study showed significant improvements in health outcomes for type 2 diabetes patients using Omnipod 5, including a 0.8% overall reduction in HbA1c and a 20% improvement in time in range. The system simplifies diabetes management by automatically adjusting insulin delivery every 5 minutes using SmartAdjust™ technology.
Insulet (NASDAQ: PODD), the global leader in tubeless insulin pump technology, has announced its participation in three upcoming investor conferences in September 2024:
- The 2024 Wells Fargo Healthcare Conference in Boston on September 4 at 9:30 a.m. ET
- The Morgan Stanley 22nd Annual Global Healthcare Conference in New York City on September 6 at 8:30 a.m. ET
- The Baird 2024 Global Healthcare Conference in New York City on September 10 at 8:30 a.m. ET
Live audio webcasts of the presentations will be available on the company's investor relations website. Insulet is known for its Omnipod Insulin Management System, a tubeless disposable Pod that provides up to three days of non-stop insulin delivery. The company's flagship product, the Omnipod 5 Automated Insulin Delivery System, integrates with a continuous glucose monitor and can be controlled by a compatible smartphone in the U.S.
Insulet (NASDAQ: PODD), the global leader in tubeless insulin pump technology, celebrated the grand opening of its new 400,000-square-foot manufacturing facility in Johor Bahru, Malaysia. This state-of-the-art facility will produce the Omnipod® 5 Automated Insulin Delivery System, strengthening Insulet's global operational capabilities and supply chain resiliency.
The facility, twice the size of Insulet's Acton, Massachusetts plant, currently employs over 350 full-time workers, with plans to expand to more than 1,000 in the coming years. It features sustainable elements, including 5,700 solar panels and a rainwater harvesting system, aiming for Green Building Index (GBI) certification and LEED Silver certification.
This $200M investment is expected to have a significant impact on the local economy while ensuring uninterrupted access to Insulet's products for customers worldwide.
Insulet (NASDAQ: PODD) reported strong Q2 2024 financial results, with revenue increasing 23.2% year-over-year to $488.5 million. The company's flagship Omnipod product line saw a 26.3% revenue increase to $480.4 million. Gross margin improved to 67.7%, and operating income rose to $54.6 million, or 11.2% of revenue. Adjusted EBITDA reached $90.8 million, or 18.6% of revenue.
Insulet raised its full-year 2024 guidance, now expecting revenue growth of 16% to 19% in constant currency. The company also increased its operating margin forecast to approximately 14.0%. These positive results were driven by strong Omnipod 5 demand and accelerated product innovation, including new launches and integrations in both U.S. and international markets.
Insulet (NASDAQ: PODD) reported preliminary Q2 2024 revenue results, showcasing strong performance. Total revenue reached $488 million, up 23% year-over-year, exceeding the company's guidance of 15% to 18% growth in constant currency. The growth was driven by robust demand for Omnipod 5, with Total Omnipod revenue increasing by 26% to $480 million. U.S. Omnipod revenue grew 27% to $352 million, while International Omnipod revenue rose 23% to $128 million. Based on these results, Insulet plans to raise its full-year 2024 Total Omnipod revenue outlook to 18% to 21% growth, up from the previous 15% to 19% range. The company will release full Q2 2024 financial results on August 8, 2024.
Imperative Care, a medical technology company focused on stroke and ischemic diseases, has announced the initial closing of an oversubscribed Series E financing led by Ally Bridge Group. The financing, which may raise up to $150 million in total, includes participation from existing and new investors. The funds will support the company's hypergrowth strategy and investment in novel technologies and clinical evidence.
Additionally, Shacey Petrovic has been appointed to the newly created position of Vice Chair of the Board of Directors. Petrovic, who joined the board in 2023, will focus on scaling strategies to bring life-changing technologies to more patients. She previously served as President and CEO of Insulet and currently sits on the boards of Exact Sciences (EXAS), Ambu A/S, and Axena Health.
CereVasc, a clinical-stage medical device company, has appointed Shlomi Nachman and Timothy Scannell to its Board of Directors, effective July 11, 2024. Nachman, former Company Group Chairman at Johnson & Johnson's Medical Devices sector, brings over 25 years of industry experience. Scannell, former President and COO of Stryker , has more than 30 years of leadership experience in medical technology.
Dan Levangie, CereVasc's Chairman and CEO, expressed excitement about leveraging their expertise to bring the eShunt System to market. Both appointees have extensive backgrounds in medical devices and neurovascular fields, with Nachman's experience in cardiovascular solutions and Scannell's success in MedSurg & Neurotechnology businesses.