Smiths Medical Pulls Out from Diabetes Market.
Wow - this surprised me.
The company that makes the Deltec Cozmo pump issued a statement today, saying that they are stopping the sale of their insulin pump. According to the press release:
“The continued health of the thousands of people who use the Deltec Cozmo® insulin pump is our primary concern, and they should be reassured that their pump remains an excellent choice to help them manage their diabetes,” said Srini Seshadri, president of Smiths Medical. “Our customers also should be reassured that Smiths Medical will meet all of its warranty obligations; provide customer and clinical support for the lifetime of the warranty of all pumps; ensure that Deltec Cozmo® insulin pump cartridges and Cleo® and Comfort® infusion sets are available; and make any necessary transitions as simple as possible.”
Why did they pull out? Looks like the pump "biggies" - Medtronic and Johnson & Johnson - have cornered the market share. More from the release:
"In addition, as its only direct-to-consumer enterprise, the Diabetes business has little synergy with the rest of Smiths Medical’s businesses. For this reason, Diabetes requires its own extensive sales, marketing, reimbursement, insurance and clinical support infrastructure in the United States, which has resulted in it becoming uneconomical as sales and profits for the business have decreased. Without a strong, profitable Diabetes business in the United States, the world's largest medical market, it would also be impossible to sustain the business internationally.
Looks like the full transition out will take about four years, which corresponds to the warranty on new insulin pumps. Cozmo pumpers, at that time, will need to chat up their medical team to get information on switching to a new insulin pump. They have a whole website dedicated to answering questions, so if you need more information, check out the site.
Personally, I'm sad to see this happening. I think having more pump manufacturers contributes to more innovation, offering diversity to insulin pumpers. I'm a Medtronic pumper, but I considered the Cozmo back when I was shopping for a pump. I hate seeing options removed from us.
Sorry to see you go, Cozmo.