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:6/27/2016)... ... 2016 , ... TherapySites, the leading website and ... Tennessee Counseling Association. This new relationship allows TherapySites to continue to extend ... exclusive benefits and promotional offers. , "TCA is extremely excited about this new ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star rating to ... of individuals in the United States and Canada wear eyeglasses. Once considered to be ... vision and make a fashion statement. Even celebrities use glasses as a way of ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, a ... can give their videos a whole new perspective by using the title layers ... Film Studios. , ProSlice Levels contains over 30 Different presets to choose from. ...
(Date:6/26/2016)... ... June 26, 2016 , ... ... have been diagnosed with endometriosis. These women need a treatment plan to not ... comprehensive approach that can help for preservation of fertility and ultimately achieving a ...
(Date:6/25/2016)... FL (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial ... Plant City Observer , brings up a new, often overlooked aspect of head lice: the ... closing for fumigation is not a common occurrence, but a necessary one in the event ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... ALEXANDRIA, Va. , June 24, 2016 ... a set of recommendations that would allow ... information (HCEI) with entities that make formulary and coverage ... determine the "value" of new medicines. The ... that does not appear on the drug label, a ...
(Date:6/24/2016)... 2016 Research and Markets has announced ... Diagnostic Tests" report to their offering. ... The World Market for Companion Diagnostics covers ... Market analysis in the report includes the following: ... Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
(Date:6/24/2016)... , Belgium , June 24, ... VNRX), today announced the appointment of Dr. ... Directors as a Non-Executive Director, effective June 23, ... Audit, Compensation and Nominations and Governance Committees.  As ... Futcher will provide independent expertise and strategic counsel ...
Breaking Medicine Technology: