GlucoRx has entered into a partnership with Inside Biometrics International Limited to develop a next-generation continuous glucose monitoring system.
Following funding constraints, Woking-based GlucoRx, has stepped in to provide finance and secure the future of the Dingwall, Scotland-based manufacturer and supplier of equipment for people with diabetes, in a move set to bring together the “perfect ingredients” which will allow the newly created organisation to develop the latest in continuous glucose monitoring systems (CGM).
GlucoRx was founded in 2010 and is the NHS’ second largest supplier of quality diabetes products. With this significant backing, the Dingwall-based team is expecting an expansion in its product portfolio and manufacturing operations.
Chris Chapman of GlucoRx commented: “This is an exciting expansion of the GlucoRx business as it brings together the commercial expertise of a leading supplier of diabetes products with a world-class medical technology team based in Dingwall”.
Unlike blood glucose meters, which require users to provide blood samples to give just a single glucose reading, CGM systems produce real-time, dynamic glucose information every five minutes — up to 288 readings in a 24-hour period. Users can gain valuable insight into how best to proactively manage the condition.
Mr Chapman added: “This new partnership will bring together the perfect ingredients to enable growth in the UK and internationally. We are looking forward to developing a next-generation continuous glucose monitor together, the Dingwall team has the scientific expertise and we have the logistical infrastructure and sales background to make this happen.”
The group’s plans have been welcomed by Highlands and Islands MSP David Stewart, who said the company’s development could “really save lives.”
Mr Stewart, who is Scottish Diabetes Champion and chair of the Scottish Parliament’s cross-party group on the condition, added: “This new move not only secures the 35 jobs in Dingwall but is set to bring more investment to the area and hopefully continued expansion.
“I believe this company’s unique development could really save lives, especially when it comes to children with type 1 diabetes, and its predicted expansion could lead to providing substantial employment in Ross-shire. I wish the new venture all the best for the future.”
Diabetes affects one in 25 people in Scotland, according to current statistics. That is more than 228,000 people. Meanwhile, the figure could be as high as 250,000 as it is estimated that 20,000 people in Scotland remain undiagnosed. As in many countries, type 2 diabetes is rapidly increasing in Scotland and accounts for about 87 percent of diabetes in Scotland. Uncontrolled diabetes can lead to a number of short and long-term health complications, including hypoglycaemia, heart disease, nerve damage and amputation, and vision problems.
Using NHS data, GlucoRx has calculated that its products have saved the NHS £25 million in the past three years.