Medical Technology and Devices (MTD) has completed the acquisition of the pen needles and blood glucose monitoring systems (BGM) business from Ypsomed.

The companies have not disclosed the financial terms of the deal, which was signed initially in March 2024.

MTD said the move reinforced its position as the second-largest producer in the global pen needles market.

The acquisition brings an exclusive portfolio to MTD, including advanced technologies and trademarks that complement its existing diabetes and obesity care products.

This includes the G34 pen needle and a range of pen needles with various bevels and Click Technology.

The integration of Ypsomed's operations into MTD's European production network is expected to increase the latter’s production capacity to more than 2.5 billion pen needles.

The acquisition also opens doors to high-growth markets such as China and India and strengthens MTD's presence in North America, Germany, and France.

MTD is also investing in a production facility in Europe to increase capacity and enhance the performance, quality, and ESG credentials of its operations.

Ypsomed Group diabetes care chief business officer Sébastien Delarive said: “At Ypsomed Diabetes Care, we fully concentrate on innovative insulin pump solutions.”

MTD CEO Charles Bouaziz said: “The completion of this acquisition is a transformative milestone for MTD Group.

“It accelerates our growth, opens new strategic markets, and expands our product portfolio, establishing us as the second-largest producer of pen needles worldwide.”

With this transaction, Ypsomed will be able to focus its diabetes care business on commercialisation, as well as the development of its mylife Loop insulin pump solution.

The company plans to produce pen needles as a contract manufacturer and provide certain services to facilitate a seamless transfer during a transition period.

By mid-2025, the production equipment is planned to be gradually moved to the MTD sites.