TheraSense develops, manufactures and sells easy to use glucose monitoring systems that dramatically reduce the pain of testing for people with diabetes. The company began selling its first product, the FreeStyle(R) blood glucose monitoring system, in June 2000. The FreeStyle system has wide distribution in the United States through national retailers including Walgreens, Wal-Mart, CVS, Eckerd and Rite Aid. This breakthrough device allows people living with diabetes to measure glucose in smaller amounts of blood than ever before. As a result, the pain associated with testing is greatly reduced. By encouraging more frequent testing, FreeStyle will provide patients with as much data as possible to control the disease. We also believe our technology has potential benefits in areas beyond blood glucose testing. We are studying potential applications in biochemicals, immunoassays, DNA sensors and more.
TheraSense was acquired by Abbott Labs (NYSE: ABT) in January 2004.