TheraSense buy leads Abbott to cut MediSense jobs:
This article was originally published in Clinica
Abbott Laboratories' $1.1bn acquisition of blood glucose monitoring specialist TheraSense will result in the loss of around 400 jobs in Bedford, Massachusetts, where Abbott's existing diabetes outfit, MediSense, is based. The company intends to move all its diabetes monitoring operations to Alameda, California, where TheraSense is based. About 100 of the 500 MediSense staff will be offered alternative employment; the rest will receive severance or retirement packages. Abbott Park, Illinois-based Abbott intends to establish a new division, Abbott Diabetes Care, which will be headed by Ed Fiorentino, current president of MediSense.