Portland’s SweetSpot Diabetes acquired for $8.5 million [Updated]

Portland’s SweetSpot—a service that aggregates data from blood glucose monitoring devices to make the data more useful—has been acquired by DexCom (DXCM) in an all stock deal valued at $8.5 million.

“The acquisition of SweetSpot represents another step forward in our mission to make the lives of people living with diabetes, and those caring for them, more convenient,” said Terrance H. Gregg, Chief Executive Officer of DexCom, in a press release. “Our customers consistently ask for new and better tools to support the gathering and interpretation of health-related data, as it is clear that diabetes care must and will be transformed with the help of connected monitoring devices and more sophisticated, yet simplified, use of data by healthcare providers, patients and payers.

“Our acquisition of SweetSpot combined with our insulin pump partnerships will fill these voids. Our ultimate objective is to move a patient’s CGM data directly and seamlessly from the patient’s phone or CGM receiver to our cloud-based platform. Not only will this cloud-based data provide patients and providers with much more useful information, it will greatly enhance DexCom’s ability to monitor our product performance and measure patient utilization patterns.”

The deal was managed by Nitin Khanna and MergerTech. It’s the second Portland tech acquisition for the firm this year, who also managed the Walmart Labs acquisition of Small Society.

For more information, see the press release.

Published by Rick Turoczy

More than mildly obsessed with the Portland startup community. Founder and editor at Silicon Florist. Cofounder and general manager at PIE. Follow me on Twitter: @turoczy View all posts by Rick Turoczy