- Insulet (NASDAQ:PODD) announces that it will take over the distribution, sales, marketing, training and support activities for its Omnipod System in Europe on June 30, 2018 when its distribution contract with Ypsomed AG expires.
- CEO Pat Sullivan says, “We are deeply committed to providing our Omnipod customers with the highest level of service and are confident our high-quality team has the skills and experience to assume direct distribution and commercial support in Europe. In addition, we expect this to further strengthen our financial position, as part of our multi-pronged approach to accelerate revenue growth and drive margin expansion.”
- The company does not project the change to have a material impact on its 2017 guidance. It continues to expect to be EBIT-positive next year.
- Shares are down a fraction after hours on light volume.