POPS! Diabetes Care

POPS founded in 2010! Diabetes Care develops sugar level monitoring systems in blood. Thanks to devices which are advanced by the company diabetics can understand better the disease and control its treatment. The company is founded by Lonny Stormo who worked more than 30 years as a part of producer of the medical equipment Medtronic.

2017: The investment attraction in $1.2 million

In January, 2017 POPS! Diabetes Care announced the investment attraction. The received means are going to be spent for improvement of the consumer devices used for control of development of diabetes.

According to the BioSpace.com edition with reference to the cofounder and the CEO of POPS! Diabetes Care of Lonny Stormo, the company submitted to Securities and Exchange Commission (SEC) documents in form D (Form D) in which it is told about receiving investments in the amount of more than $1.2 million. In 2015 POPS! Diabetes Care was enclosed by $500 thousand. By January, 2017 the company attracted in total $1.75 million investments.^[1]

Stormo reported that funds from investors will go for creation of new products and improvement of already released products. In 2017 the company is going to receive from the Food and Drug Administration (FDA) approval for sale of the devices in the USA.

By Pops estimates! Diabetes Care, the size of the market of solutions for the analysis of level of sugar in blood makes $11 billion. By the beginning of 2017 the number of patients with diabetes exceeds 400 million people worldwide. 75% of expenses on treatment leave as a result of the complications connected with bad control of glucose. Try to control diabetes traditional tools too much, Stormo notes.

Our solution provides new consumer experience to people, like me which should carry out every day tasks of control of diabetes — he said.

Notes