Neighborhood Move for Insulet

BEDFORD, Mass. — Insulet Corp., which manufactures the
OmniPod insulin pump, announced June 2 that it has acquired
Neighborhood Diabetes for $63 million in cash and stock.

Based in Woburn, Mass., with offices in Brooklyn, N.Y., and
Orlando, Fla., Neighborhood Diabetes serves more than 60,000
customers, primarily in the Northeast and Southeast, with more than
15,000 of its insulin-dependent clients using multiple daily
injection therapy. Combined with Insulet’s base of 25,000 OmniPod
customers, “we believe this combination best positions both
companies to accelerate growth and achieve the vision of providing
a full-service diabetes offering to our now more than 85,000
combined customers,” said Tom Cronin, Neighborhood’s CEO, in a
release.

Insulet president and CEO Duane DeSisto added that the
acquisition brings “critical infrastructure” to the company and
“immediately strengthens our back office processing capacity, a
necessary investment to support additional domestic commercial
expansion in advance of the expected approval of the next
generation OmniPod.”