Canton Bern-based Disetronic Holdings has signed an agreement to supply insulin pumps to the US managed health care provider, CCN.
Under the terms of the deal, announced on Wednesday, Disetronic will provide insulin pumps to CCN members who have Type One diabetes and would benefit from pump therapy.
Disetronic Chief Executive, Thomas Meyer, said the deal underscored the company's move to tap more business in the US insulin pump market via managed care companies. The market is worth $250 to $350 million (SFr412-SFr517 million).
The deal follows a similar agreement with another US firm, Humana, signed last year, said Meyer.
Some 100,000 people in the US now use insulin pumps and the market is growing at 30 per cent a year in dollar terms.
"We have a market share of about 23 per cent among existing pump customers and about 30 per cent for new pump users," he said.
Shares in Disetronic, which have under-performed the broader Swiss market by 12.5 per cent this year, managed to recoup some ground - at one stage, in what was a generally weaker Swiss stock market, shares in Disetronic were up 3.5 per cent.
No financial details on the deal were released.
swissinfo with agencies