11:22 AM EDT, 08/07/2024 (MT Newswires) -- Medtronic ( MDT ) said Wednesday it received approval from the US Food and Drug Administration for its disposable Simplera continuous glucose monitor that's half the size of its previous CGMs.

The design simplifies the insertion and wear experience, eliminating the need for overtape, the company said.

Medtronic ( MDT ) also said it has entered into a global partnership with Abbott Laboratories ( ABT ) to develop an integrated continuous glucose monitoring system based on Abbott's CGM platform to complement its future offerings. Abbott will supply Medtronic ( MDT ) with a CGM that will work with Medtronic ( MDT ) smart dosing devices and software as part of the deal.

Medtronic ( MDT ) said it expects this original equipment manufacturer agreement to be accretive to Diabetes revenue and neutral to Diabetes gross margin.

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