Navigation Links
Simplex Diabetic Supply, Inc. Secures $50 Million in Growth Equity from New Enterprise Associates
Date:10/8/2007

Attacking the Diabetes Epidemic Opportunity

BRENTWOOD, Tenn., Oct. 8 /PRNewswire/ -- Simplex Diabetic Supply, Inc. (Simplex) has secured a growth equity investment of $50 million from New Enterprise Associates (NEA). As a part of this investment, NEA General Partners Chip Linehan and Ryan Drant will join the Simplex Board of Directors.

"NEA shares our vision for leadership and consolidation opportunities in the diabetic testing supplies market," said Richard Pinson, Simplex Chairman. "We're excited to welcome Chip and Ryan to our board, and look forward to the insights and extensive network of resources the NEA team will bring to the future of Simplex. This infusion of capital will allow Simplex to accelerate and execute its highly disciplined acquisition strategy."

"The U.S. market of diabetic supply providers is fragmented and consists of small- to medium-sized players," said Mr. Linehan. "NEA's investment reflects our belief that Simplex's experienced management team has the vision and skill to build one of the largest diabetic supply organizations in the country."

Diabetic patients account for only five percent of the U.S. population but account for more than 15 percent of total drug spending. "We believe that diabetes treatment will become the fastest-growing therapeutic category in healthcare over the next few years" said Larson Douglas Hudson, CEO. "Simplex is well capitalized to set new standards in patient care and provide innovative services for the rapid-growth diabetic testing supplies market."

The U.S. diabetes epidemic is growing due to the aging and increasing obesity of the American population. Additionally, 1.3 million new diabetics are diagnosed each year. The Centers for Disease Control estimates that nearly 21 million Americans are diabetic, and an additional 41 million are pre-diabetic, a condition with elevated blood sugar level but not quite high enough to be classified as diabetes.

About Simplex

Simplex Diabetic Supply, headquartered in Brentwood, Tennessee was founded in 2007 to become a leading provider of diabetic testing supplies. In less than 6 months, Simplex has grown to provide service to over 24,000 diabetic patients, which already makes Simplex the 12th largest out of 52,083 Medicare Diabetes Suppliers.


'/>"/>
SOURCE Simplex Diabetic Supply, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Herpes Simplex and Alzheimer’s Disease Linked to Single Gen
2. New Drug in Diabetic Neuropathy
3. Cinnamon May Help Diabetics
4. Eating disorder in Diabetic girls lead to eyesight damage.
5. Diabetic testing gets easier
6. Heart disease threat starts early in life for Diabetics
7. Gastrointestinal ills more common in diabetics
8. Diabetics and their babies
9. Pollution- hazardous for diabetics
10. New treatment for diabetics
11. Breast screening among diabetic women
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... Montreal, Canada (PRWEB) , ... June 25, 2016 , ... ... the pursuit of success. In terms of the latter, setting the bar too high ... low, risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her ... would lash out at his family verbally and physically. , “When something upset him, he ... he would use it. He would throw rocks at my other children and say he ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, ... and the Road To Recovery® program to drive cancer patients to and from their ... to ensure the highest quality of life and ongoing independence. Getting to and ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute Beauty ... Barry M. Weintraub as a prominent plastic surgeon and the network’s newest partner. ... and the most handsome men, look naturally attractive. Plastic surgery should be invisible.” ...
(Date:6/24/2016)... ... June 24, 2016 , ... Venture Construction Group (VCG) ... held on June 20th at the Woodmont Country Club at 1201 Rockville Pike, ... organization dedicated to helping service members that have been wounded in battle and their ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... LAS VEGAS , June 26, 2016 ... movement to value-based care operating models within the health ... that enable greater financial efficiency , Deloitte offers ... address the key business issues impacting efficient cost optimization: ... alignment , These services facilitate better outcomes and ...
(Date:6/24/2016)... June 24, 2016 ... announced the addition of the " Global Markets ... This report focuses ... an updated review, including its applications in various applications. ... market, which includes three main industries: pharmaceutical and biotechnology, ...
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... "The World Market for Companion Diagnostic Tests" report to ... World Market for Companion Diagnostics The World ... diagnostic and personalized medicine diagnostics. Market analysis in the report ... Diagnostics Test Market (In Vitro Diagnostic Kits) by Region (N. ...
Breaking Medicine Technology: