Nintamed has served as Dexcom’s exclusive distributor in Germany, Switzerland and Austria for 6 years, the San Diego, Calif.-based company said.
“The acquisition of Nintamed represents another step forward in our mission to improve access to our leading CGM technologies globally. As we expand our international footprint, these countries represent attractive markets for Dexcom and Nintamed’s team leaves us well positioned to drive continued strong growth there. Since introducing our CGM system to these countries several years ago, Nintamed, through the leadership of Rudolf Messer, has developed deep knowledge and relationships in the diabetes community. Together, I am confident we will increase the awareness of the tremendous benefits Dexcom’s technologies can deliver to patients throughout this region,” CEO Kevin Sayer said in a prepared statement.
The company said that newly-acquired Nintamed will “operate closely” with its international headquarters in Edinburgh, Sctoland.
Dexcom saw shares slip nearly 6% since the continuous glucose monitoring company released its 1st-quarter results April 27 after the company missed Wall Street’s earnings expectation.
The company reported that losses widened 48.8% to -$19.2 million, or -23¢ per share, on sales of $116.2 million for the 3 months ended March 31 – for a top-line gain amounting to a whopping 59.6%. Still, losses were a penny behind The Street’s consensus for losses of -22¢.
Dexcom stood pat on its guidance for full-year revenues, with strategy & corporate development EVP Steven Pacelli telling analysts “we will stick with our current guidance of $540 million to $565 million in revenue for the year,” according to a Seeking Alpha transcript.