Trinity Biotech strengthens focus on glucose monitoring, appoints Barclays as advisor

USA – Trinity Biotech, a company known for its diagnostic products, has taken a significant step by appointing Barclays Capital Inc. as its exclusive financial advisor.

This move highlights Trinity Biotech’s commitment to focusing on continuous glucose monitoring (CGM) technology, which is vital for managing diabetes.

Trinity Biotech has been developing a CGM system that aims to be more affordable and user-friendly. The company’s leadership has now made CGM technology their main focus for future growth.

Barclays will assist Trinity Biotech in evaluating its current business operations to ensure they align with this new direction. The goal is to enhance the company’s financial performance and support the growth of its CGM technology.

John Gillard, CEO and President of Trinity Biotech expressed confidence in this strategic shift, stating, “Our strong pre-pivotal clinical trial data and the keen market interest for our more affordable, user-focused, and sustainable CGM solution give us confidence that this is a vast and compelling opportunity for Trinity Biotech and our investors.”

He also noted, “At the same time, our strong execution of the company’s ambitious comprehensive transformation plan is poised to provide us with a portfolio of operating businesses with significantly improved financial prospects.”

The global market for insulin pumps and continuous glucose monitors was valued at US $11.99 billion in 2023 and is expected to grow at a rate of over 5% from 2023 to 2033. This growth is driven by the increasing number of diabetes cases worldwide.

Barclays’ role

As the financial advisor, Barclays will help Trinity Biotech assess its current business structure and identify areas for improvement.

This collaboration aims to ensure that resources are effectively allocated to support the development and commercialization of the CGM technology.

For investors, this focus on CGM technology represents an opportunity to enter a growing market with significant demand.

The expected improvements in profitability and operational efficiency are anticipated to enhance shareholder value.

Patients could benefit from a new CGM solution that prioritizes affordability and user-friendly design, potentially improving diabetes management and overall health outcomes.