Roche, a Basel, Switzerland-based pharmaceutical company, signed an agreement to acquire all shares of mySugr, a mobile diabetes platform.
Under the agreement, mySugr will remain a separate legal entity. Officials said the acquisition will help Roche expand its patient-centered digital health services for diabetes care.
MySugr enables people with diabetes to share blood glucose data with their healthcare provider and access coaching services.
"We are excited about this agreement, as we will be able to offer seamlessly accessible patient solutions within an open platform to better respond to the unmet needs of people with diabetes," said Roland Diggelmann, CEO of Roche Diagnostics. "Our aim is to support people with diabetes to spend more time in their ideal glucose target range and improve their quality of life."
The financial terms of the acquisition were not disclosed.