Business Korea reports that EOFlow CEO Kim Jae-jin is leaving the door open with regard to the company’s collapsed deal with Medtronic
(NYSE: MDT)
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Medtronic announced this week that it terminated its $738 million agreement to acquire EOFlow, a maker of insulin patch pumps. The medtech giant cited “multiple breaches” of terms in the agreement as the reason behind the decision.
According to the Business Korea report, Jae-jin said the company itself terminated the acquisition contract with Medtronic.
He said both sides tried to find a mutual agreement over the past few weeks, citing “fundamental differences in perspective.” The CEO said Medtronic views ongoing legal disputes over IP with patch pump leader Insulet as “uncertain.”
Get the full story at our sister site, Drug Delivery Business News.
