Skip to main content
Home
  • Main Menu
  • Topics
    • Video
    • Provider
    • Payer
    • Pharma
    • Consumer
    • Investor

Regions

  • ANZ
  • ASIA
  • EMEA
  • Global Edition

With $32M loan, connected glucometer pioneer AgaMatrix will split company into CGM, BGM businesses

By Jonah Comstock
October 05, 2017
03:00 pm
Share

AgaMatrix, the medical device that launched the first ever iPhone-connected glucometer, has secured a $32 million loan in order to reorganize the company into two distinct entities: AgaMatrix, which will continue to focus on Bluetooth-enabled glucometer's such as the company's newest Jazz Wireless 2 device, and WaveForm Technologies, which will be focused on the development of a proprietary continuous glucose monitoring product based on technology acquired from iSense CGM and Bayer Healthcare in 2016. A new holding company called AgaMatrix Holdings will own 100 percent of the stock in both businesses.

The loan funding, from Prospect Capital Corporation, will be used to support sales and marketing, product development, and clinical trial initiatives for both companies.

“With the completion of the Prospect transaction, we’ve initiated the remaining steps to complete the reorganization of our company,” John Alberico, president and CEO of AgaMatrix Holdings, said in a statement. “These next steps will enable each organization to focus on its strongest competencies and set an appropriate strategic direction. We are excited about the technology, products, and services our two companies offer to the diabetes community and their caregivers.”

It's hard not to see the move as a reaction to the seismic changes happening in the world of glucose monitoring and diabetes management. Companies like Abbott, Dexcom (via its partnership with Verily), and Senseonics are all working on reinventing the CGM to be cheaper, longer lasting, and less intrusive, with the goal of eventually taking it beyond its traditional Type 1 use case into the much larger population of people with Type 2 diabetes. Although it won't happen overnight, that sea change will eventually spell trouble for companies that rely on fingerstick glucometers — even connected glucometers — for their livelihood.

"There is great opportunity for our accurate, low-cost AgaMatrix BGM technology to capture significant market share with the additional investment afforded by the Prospect transaction," Thomas Bailey, CFO of AgaMatrix Holdings, said in a statement. "We are also excited by the results of recent clinical trials supporting the development of WaveForm's novel continuous glucose monitoring technology, and are eager to pursue the tremendous market opportunity for WaveForm's product candidates as a fully independent company."

WaveForm's recently acquired technology boasts lower cost, longer potential sensor life, and easy and painless needle insertion, so it could certainly allow the company to compete against the likes of Senseonics and Abbott. But its also late to the party, with CE Mark clearance not expected until 2018 and FDA approval not until 2019 at the earliest. 

Tags: 
Agamatrix, AgaMatrix Holdings, WaveForm Technologies, Prospect Capital Corporation, Bayer Healthcare, iSense CGM, continuous glucose monitoring, blood glucose monitors, connected glucometer, AgaMatrix Jazz Wireless 2

More regional news

Pharmacist interacting online

Serve You Rx, Amazon Pharmacy partner for home delivery

By
Anthony Vecchione
May 02, 2025
Two people shaking hands with six others watch

DarioHealth closes up to $50M debt refinancing and more funding news

By
Jessica Hagen
May 02, 2025
Smart phone and smart watch

Oura and Google Fitbit partner with academia and others to battle opioid disorder

By
Anthony Vecchione
May 02, 2025
Share

Top Story

Smart phone and smart watch
Oura and Google Fitbit partner with academia and others to battle opioid disorder

Editor's Pick

23andMe files for bankruptcy, CEO Wojcicki resigns
Q&A: Oura appoints its first chief medical officer
First blood pressure management system integrated with DeepSeek in Hong Kong
Emirates will offer inflight telemedicine aboard 300 aircraft
Nanowear announces partnership with Dexcom
Navina raises $55M to expand AI for value-based care

More Stories

Pharmacist interacting online
Serve You Rx, Amazon Pharmacy partner for home delivery
Two people shaking hands with six others watch
DarioHealth closes up to $50M debt refinancing and more funding news
Nurse consulting with patient
Teton unveils 3D hospital digital twin using Denmark's supercomputer
Young person communicating with a cell phone
Talkspace, Bark Technologies partner to monitor children's online activities
Pharmacist giving a person an injection
Plenful scores $50M and more funding news
Person interacting with a healthcare professional via tablet
Teladoc acquires UpLift for $30M, releases first quarter results
Person in a pharmacy setting
Hims & Hers, Novo Nordisk partner to offer weight-loss drug Wegovy
Healthcare professional looking at a PC screen
Commure, HealthTap partner for expanded after-hours care
Home

More News

  • Healthcare IT News
  • Healthcare IT News Australia
  • Healthcare Finance News
  • HIMSS TV

MobiHealthNews

 

Connect

Add MobiHealthNews to your network.
HIMSS25 European Health Conference & Exhibition
HIMSS25 European Health Conference & Exhibition
Get ready for knowledge-sharing, all the latest innovations, and in-depth demos with Europe's most influential healthcare community.
10 - 12 June, 2025 | Paris
Learn More
AI in Healthcare Forum
AI in Healthcare Forum
The HIMSS AI in Healthcare Forum cuts through the hype to showcase real-world examples illustrating the transformative potential, and realistic challenges of AI application across the care continuum.
10 - 11 July 2025 | New York
Learn More

Footer Menu

  • About
  • Advertise
  • Reprints
  • Contact
  • Privacy Policy

© 2025 MobiHealthNews is a publication of HIMSS Media

X

Topics

  • Video
  • Provider
  • Payer
  • Pharma
  • Consumer
  • Investor

Career

  • Events
  • Jobs
  • Learning Center

More

  • About
  • Advertise
  • Contact
  • Privacy Policy

Regions

  • ANZ
  • ASIA
  • EMEA
  • Global Edition

MobiHealthNews:

The latest news in digital health delivered daily to your inbox.

Search form

Top Stories

Smart phone and smart watch
Oura and Google Fitbit partner with academia and others to battle opioid disorder
Three surgeons operating on a patient
Thyroid cancer AI assistant developed in Hong Kong
A doctor discussing findings with an older patient
Digital dementia support project gets $2M federal funding and more briefs