PHC Holdings Corporation and Ascensia Diabetes Care, a PHC Group company, have announced a strategic partnership with Senseonics Holdings, a medical technology company focused on the development and commercialization of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes. As part of the agreement, Ascensia has been appointed the exclusive global distribution partner for Senseonics’ CGM systems, including Eversense, Eversense XL and future generation products in development, such as the 365-day implantable sensor.
The partnership comprises a global commercialization and distribution agreement and a concurrent financing agreement. Under the commercialization and distribution agreement, Ascensia’s exclusive global distribution rights to Senseonics’ products are expected to last through 2025. In Europe, Ascensia will begin commercialization activities in selected countries once Senseonics’ existing distribution relationships have concluded, currently through Roche in the UK. As part of the financing agreement, PHC Holdings Corporation has agreed to invest up to USD $50m into Senseonics
Robert Schumm, President of Ascensia Diabetes Care and Diabetes Management Domain Head, PHC Group has commented, “We are thrilled to be entering into this partnership with Senseonics and strongly believe in the value of the Eversense technology. They have highly accurate and effective products on the market and a strong pipeline of innovative solutions that can address the needs of people with diabetes. We are excited by their future generation products, particularly the 365-day sensor, which we think has the potential to simplify diabetes management and improve lives.”
The partnership is the next step in building a world-class diabetes care franchise for Ascensia, as the company looks to expand its business beyond blood glucose monitoring. It will enable it to establish a presence in the CGM market, especially in the US and Europe, and will further strengthen its existing portfolio of products.
Incorporated in 2014, PHC Holdings Corporation is a global healthcare company with subsidiaries including PHC Corporation, Ascensia Diabetes Care Holdings AG, Epredia
, and LSI Medience Corporation. Ascensia Diabetes Care is a global specialist diabetes care company whose mission is to empower people living with diabetes through innovative solutions that simplify and improve their lives. It uses its specialist expertise in diabetes to develop high quality solutions and tools that make a positive, daily difference for people with diabetes. Ascensia Diabetes Care was established in 2016 through the sale of Bayer Diabetes Care to PHC Holdings Corporation (formerly Panasonic Healthcare Holdings Co., Ltd). Ascensia Diabetes Care products are sold in more than 125 countries. http://www.ascensia.com
The Eversense brand of continuous glucose monitoring (CGM) systems is from Senseonics Holdings, Inc. They include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user’s smartphone.
A spokesperson for Ascensia has confirmed that this arrangement is as well as the previously announced global alliance between Ascensia and Zhejiang POCTech, Co., Ltd (POCTech), a developer and manufacturer of continuous glucose monitoring (CGM) systems. As reported in December 2019, the intention was to bring to market a state-of-the-art CGM product that improves on the current CGMs available. As part of this agreement Ascensia will commercialize a version of POCTech’s current CGM kit.