Blackstone funds Medtronic for diabetes tech R&D

Blackstone Life Sciences, a unit within the firm’s private equity group, made a $337 million investment in Medtronic to help expand development future diabetes technologies.

The investment is expected to accelerate Medtronic’s diabetes pump and CGM technology pipeline. The funding included co-investors and is aimed at advancing these innovated products that are designed to reduce the burden of diabetes management, officials said.

The announcement was made at the start of scientific sessions of the American Diabetes Association, which were held virtually.

Medtronic’s diabetes devices are designed to provide improved . . .

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