Healthcare investor Deerfield Management Co. is ponying up $60 million to back Insulet Corp.

The Bedford-based device maker, which is developing the OmniPod insulin management system, posted a fourth-quarter revenue surge of 172 percent and added 2,200 customers, demonstrating the growth potential of the tubing-free insulin pump.

Under the terms of the agreement, Deerfield will provide Insulet with $27.5 million within fifteen business days of inking the deal, with another $32.5 million available at Insulet’s discretion over the next 20 months. The note comes due in 2012.