A pair of deals in the fourth quarter of 2024 highlights the attraction of the patient-direct market for continuous glucose monitors, say M&A analysts. In December, Cardinal Health announced it plans to spend $1.1 billion to buy Carlsbad, Calif.-based Advanced Diabetes Supply, a national provider that serves about 500,000 diabetes patients annually, and in November, Henry Schein said it had signed an agreement to buy Tampa, Fla.-based Acentus, a national provider of CGMs with $35 million in annual revenue. “These two latest deals are representative of a broader push from larger strategic groups into the patient-direct market, which deviates from their traditional B2B/wholesale focus,” said Kevin Palamara, managing director for Provident Healthcare Partners.
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