ALR Technologies announced that it has entered into a letter of intent to acquire 100% of CGM Medical Technology Singapore and assets of CGM Medical Technology Shenzhen.
The aggregate purchase price includes 200 million ordinary shares and $45 million, payable upon certain conditions being met.
ALR Technologies said the acquisition would make the company a fully integrated diabetes company by giving it ownership of the intellectual property and technology used to produce continuous glucose monitors.
The continuous glucose monitors are used in the GluCurve Pet CGM and are expected to support the company’s future human health CGM product.
Under the terms of the letter of intent, ALR Technologies will acquire CGM Medical Singapore for 200 million ordinary shares issued upon completion of a definitive agreement.
The company will also issue a $40 million unsecured, non-interest-bearing promissory note payable as an earn-out.
Using CGM Medical Singapore’s licenses, intellectual property, personnel, and expertise, ALR Technologies plans to build a manufacturing facility in the Johor-Singapore Special Economic Zone after the transaction closes.
Once the automated facility reaches rated production of 500,000 CGMs per month, ALR Technologies will begin making monthly payments equal to 25% of free cash flow generated by the company until the $40 million has been paid in full.
These payments will be deferred until payments for CGM Medical Shenzhen are completed.
ALR Technologies will also acquire assets of CGM Medical Shenzhen for a cash payment of up to $5 million.
At closing, the company will pay CGM Medical Shenzhen $1 million, with the remaining amount of up to $4 million to be paid as 25% of free cash flow until fully paid, subject to certain conditions.
ALR Technologies has initiated the purchase of $1.65 million in additional automation equipment for the CGM Medical Shenzhen operation located at the InnoMax facility in Shenzhen.
InnoMax is a medical device manufacturing subsidiary of Foxconn.
The equipment is expected to increase rated production capacity to 300,000 units per month.
Once that production capacity is reached, the acquisition of CGM Medical Shenzhen is expected to close, and ALR Technologies will begin monthly payments for the remaining amount.
The Shenzhen production will be used exclusively to supply units for the GluCurve Pet CGM and future human CGM products.
ALR Technologies expects to enter into a definitive agreement to acquire CGM Medical Singapore by July 31, 2026, with completion anticipated by August 31, 2026.
The company expects to enter into a definitive agreement to acquire CGM Medical Shenzhen by August 31, 2026, with completion anticipated by January 31, 2027.
CGM Medical Shenzhen specializes in the production of continuous glucose monitoring devices for diabetes management and other wearable medical devices.
CGM Medical Singapore provides medical device development services, technology transfer, software development, industrial applications of artificial intelligence, and manufacturing scale-up services.
In 2025, CGM Medical helped ALR Technologies develop GluCurve Pet CGM, a diabetic monitoring system built specifically for veterinary use in cats and dogs.
The partnership led to the commercial launch of GluCurve Pet CGM in May 2026.
ALR Technologies is a diabetes management company that developed the ALRT Diabetes Solution, which includes an FDA-cleared and HIPAA-compliant diabetes management system, a Predictive A1C algorithm, and an FDA-cleared insulin dosing adjustment program.
The company’s animal health division developed GluCurve Pet CGM to help veterinarians assess insulin treatment effectiveness and determine dosing for companion animals.
KEY QUOTES:
“The acquisition of CGM Medical will make ALRT a fully integrated diabetes company from start to finish. We will own the intellectual property and technology to produce the continuous glucose monitors used in the GluCurve Pet CGM and the future human health CGM we will be launching. The acquisition will enable us to increase margins and have full control of our products and services. The expertise of CGM Medical will also contribute to the design, development, and commercialization of other medical devices for diabetes management and additional chronic diseases.”
Sidney Chan, Chairman and CEO of ALR Technologies
