Palm Beach, FL – November 17, 2023 – FinancialNewsMedia.com News Commentary – The global diabetes therapy and treatment market is driven primarily by increased diabetes prevalence, sedentary lifestyles, and most other chronic diseases, such as hypertension. According to the International Diabetes Federation (IDF), approximately 537 million adults (20-79 years) have diabetes, with the number of diabetic patients expected to rise to 643 million by 2030 and 783 million by 2045. As a result, the rising prevalence of diabetes in the population contributes to the growth of the diabetes therapeutics market. Diabetes can also be inherited and is linked to a patient’s family history and genetics. Not everyone necessarily inherit it, but people with a family history are more likely to develop diabetes. Furthermore, rising public awareness of diabetes self-management contributes to market growth. Moreover, creating affordable and effective diabetes therapeutics, such as oral hypoglycemic agents, and government initiatives to provide diabetes care facilities drive market growth. According to a report issued by 24MarketReports, “As living standards improve, an increasing obesity, the Diabetes Treatment has improved people’s living habits, disease control effect, is becoming more and more important. We surveyed the Diabetes Treatment companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.” Active Biotech Companies active today in markets include: Thrive Precision Health (OTCPK: CNER), Insulet Corporation (NASDAQ: PODD), Tandem Diabetes Care, Inc. (NASDAQ: TNDM), Eli Lilly and Company’s (NYSE: LLY), Abbott Laboratories (NYSE: ABT).
24MarketReports reported: “The global Diabetes Treatment market was valued at $43.6 Billion in 2022 and is projected to reach $55.2 Billion by 2029, at a CAGR of 3.4% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.” The significant growth in the market can be attributed to factors such as the rising prevalence of diabetes and the increasing number of health awareness programs launched by various health organizations. Approximately 10% of all diabetes cases are type 1, with the remainder being type 2. The 2022 National Diabetes Statistics report was recently released by the Centers for Disease Control and Prevention (CDC). According to this report, more than 130 million adults in the United States have diabetes or prediabetes.
Thrive Precision Health (OTCPK: CNER): CHINA NEW ENERGY GROUP COMPANY/THRIVE PRECISION HEALTH ANNOUNCES AGREEMENT TO ACQUIRE TWO DIABETES CLINICS IN HAWAII – Thrive Precision Health (“THRV”) (formerly Thrive Global Biosafety and China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., “CNER” or “Company”) is pleased to announce it has entered into an agreement to acquire all of the assets of two diabetes clinics in Hawaii with the plan to expand to 20 clinics.
“Diabetes is a big problem among the population in Hawaii, and our focus will be to reduce the pain, struggle, and cost of the diabetes epidemic and its co-morbidities.”, stated Guy Zajonc, CEO and Chairman of Thrive Precision Health.” “Acquisition of Heal Diabetes, LLC will give us the footprint to build Thrive Clinics across Hawaii. The management team is highly skilled in delivering the newest forms of diabetes treatment.”
Heal Diabetes has 2 locations operating and has billed $1.2M in diabetic care service year to date in 2023 and is seeing consistent month-over-month growth. Over 350 patients have been treated in 2023 at the Honolulu HI and Waipahu HI clinics. We plan to open two more clinics in early 2024. The first one in Waipahu to accommodate a waitlist of 200 patients. And the second new clinic in Waianae, HI, to serve over 4,500 diabetic patients through network referrals.
“The Thrive Precision Health vision to apply advanced technology to diabetes care and individualizing each patient’s care is the next evolutionary step in digital health. When advanced technology focuses on a specific problem as large as diabetes, we believe patient outcomes will be better by avoiding expensive treatments like amputation, dialysis, and chronic pain,” stated Charles Elliott, President of Heal Diabetes. “Our experience in delivering care on the front lines combined with Thrive’s technology is something my team wants to be part of.”
THRV will start with the two operational clinics and work to fund the startup of the next two clinics in Q1 2024. Based on demographics and demand, THRV expects to serve the diabetic community across Hawaii with 20 clinics. Each clinic will have a standardized footprint with digital workflows to guide patients and clinicians on optimal care procedures.
The Hawaii State Department of Health, in their Published Hawaii Diabetes Plan 2030, states, “Diabetes costs Hawai’i $1.1 billion in direct healthcare expenditures and is currently the 8th leading cause of death in the state. Nearly one in every four healthcare dollars goes toward the care of people with diabetes. On average, people with diabetes incur more than twice the medical costs of people without diabetes.
For more details on the report, click this link: https://hhsp.hawaii.gov/assets/pdf/HHSP_Diabetes_Plan_WEB.pdf
The acquisition is an asset purchase transaction is an all-stock acquisition and will close once Thrive Precision Health Hawaii Inc. (a wholly owned subsidiary of Thrive Precision Health Inc.) completes its mandatory credentialing in Hawaii, estimated to be 90-120 days. During this hold period, THRV will advance funds to Heal Diabetes to expand their operations and add the two new locations.
Thrive Precision Health Inc., has made an application to FINRA for a name and symbol change as it appears on the OTC Markets web site (currently reported as China New Energy Group Company, OTC:CNER). Corporately the name has been changed in the State of Delaware and legally operates as Thrive Precision Health Inc. CONTINUED… Read this full Press Release for Thrive Precision Health at: https://www.thrivebiosafety.com/news
In other biotech developments in the markets of recent:
Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, recently announced financial results for the three months ended September 30, 2023.
“Our third quarter financial and operational results marked another strong quarter for Insulet, and as a result of continued high demand for Omnipod 5 – both in the U.S. and globally – we are pleased to again raise guidance for the full year,” said Jim Hollingshead, President and Chief Executive Officer. “We are the leader in growing the large U.S. type 1 and type 2 diabetes markets, and we are only in the early innings of capitalizing on strong and increasing global demand. We are confident we are taking the right steps to unlock Insulet’s full potential while successfully advancing our mission to improve the lives of people with diabetes.” Read the full financial results at: https://finance.yahoo.com/news/insulet-reports-third-quarter-2023-200100785.html
Tandem Diabetes Care, Inc., (NASDAQ: TNDM), a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company’s flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set. It also provides t:slim X2 insulin with Basal-IQ and control IQ technology; t:slim X2 with G5 Integration; and Tandem Device Updater, a tool that allows users to update their pump’s software. In addition, the company offers t:connect, a web-based data management application, which provides a visual way to display diabetes therapy management data from the pump, continuous glucose monitoring, and supported blood glucose meters for users, their caregivers, and their healthcare providers; and Sugarmate, a mobile app for people with diabetes who use insulin.
Tandem Diabetes Care, Inc., a global insulin delivery and diabetes technology company based in San Diego, California, creates new possibilities for people living with diabetes, their loved ones, and healthcare providers through a positively different experience. The Company’s human-centered approach to design, development, and support delivers innovative products and services for people who use insulin. Tandem manufactures and sells the t:slim X2 insulin pump with Control-IQ technology. For more information, visit tandemdiabetes.com.
The U.S. Food and Drug Administration (FDA) approved Eli Lilly and Company’s (NYSE: LLY) Zepbound (tirzepatide) injection, the first and only obesity treatment of its kind that activates both GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) hormone receptors. Zepbound is indicated for adults with obesity (with a BMI of 30 kg/m2 or greater), or those who are overweight (with a BMI of 27 kg/m2 or greater) and also have weight-related medical problems such as hypertension, dyslipidemia, type 2 diabetes mellitus, obstructive sleep apnea or cardiovascular disease, to lose weight and keep it off. It should be used with a reduced-calorie diet and increased physical activity. Zepbound should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines, and it has not been studied in patients with a history of pancreatitis, or with severe gastrointestinal disease, including severe gastroparesis.
“Obesity is a chronic disease that can result in serious health complications, including heart disease, stroke and diabetes. Despite our knowledge of obesity as a treatable, chronic disease, people living with obesity still face many challenges in their health and weight management journey,” said Joe Nadglowski, president and chief executive officer of the Obesity Action Coalition. “New treatment options bring hope to the many people with obesity who struggle with this disease and are seeking better options for weight management.”
Abbott (NYSE: ABT) / A study of Abbott’s Healthy Food Rx, a food as medicine program that provides home-delivered medical prescriptions of healthy food to help address diabetes, showed clinically important benefits for people with diabetes. The real-world study, which was conducted by the Public Health Institute’s Center for Wellness and Nutrition (PHI CWN) in an active community clinic over a 12-month period, found that Healthy Food Rx participants had lower A1C levels, improved diabetes self-management, and improved overall diet quality and food security.
In 2021, Abbott and its foundation the Abbott Fund launched the Healthy Food Rx program in Stockton, Calif., where 60% of the population has diabetes or prediabetes. The program, part of the company’s broader Future WellCommunities initiative, brings together Stockton-based organizations to help individuals living with diabetes by delivering free recipe-based food boxes to approximately 450 participants’ homes and providing hands-on education about managing their diabetes through nutrition.
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