Ironically as Abbott reported earnings news comes from across the pond that Nemaura Medical is about to jump into the CGM pool. Per a story posted on the MassDevice web site;
“Nemaura Medical (NSDQ: NMRD) said today that it placed an initial order to its UK-based contract manufacturer for 12,500 rechargeable transmitters, designed as part of the company’s sugarBeat glucose monitoring systems.”
Never mind whether the sugarBeat works or not, never mind if they can successfully commercialize the damn thing no let’s start the betting pool right now. CGM is quickly becoming what BGM was 15 years ago when you couldn’t swing that poor dead cat without hitting yet another BGM company. Well we are in the exact same position today with CGM as besides Abbott, Dexcom and Medtronic we have god knows how many others getting ready to jump into the CGM pool.
Just as there was not enough talent to go around in BGM the same is happening in CGM. Just as there were too many companies entering BGM that had no chance at all the same is happening in CGM. So, we might as well get the betting pool going today and start placing odds on which of these wannabes will go under first.
We will not go into our rant about how it isn’t about the damn toy. We won’t say that any idiot can build a CGM but it takes talent to run a commercially successful CGM company. We will not mention that as much as the CGM market is growing the big guys are making a land grab and the wannabes have an ice cubes chance in hell. Nope no need to say any of that.
Let’s concentrate on the prize what can we give to the winner here. What could we offer that would make everyone throw their hats into the ring. This is a tough one but damn it we should come up with something good. So, here’s a few ideas;
1. Head Gear – for just as wannabe insulin pump companies have the pleasure of getting their heads bashed in by Medtronic, these CGM wannabes will have the pleasure of getting their heads bashed in by Dexcom, Abbott and Medtronic
2. Knee Pads – it can be painful begging for money
3. A bike – another useful tool when you are riding from one conference to another begging for money
4. Ear plugs – this way you don’t have to listen to people like us continually tell you that you don’t have a chance in hell
5. Dark sunglasses – so no one sees you crying when the end come
Seriously folks are we really going to go through another round of this just as we did with BGM. Absolutely. Hey anyone remember AgaMatrix in BGM or LXN or Amira or all the senses Medisense/Therasense we know there is more but you get the point, yep the pun is intentional. Come to think of it we should start a support group for all the BGM and insulin pump companies that have come and gone. They will soon have more members when these CGM wannabe companies begin failing.
To all the CGM wannabes we will offer some great advice given to us by none other than Momma Kliff who told her boys; “Listen if you chose to embark on a foolish path do yourself a favor and find a bigger fool who will buy you out before you lose all your money. For then it is not you who is the fool.”