Abbott Laboratories is hoping to broaden its reach by appealing to healthy consumers with its new wearable device called Lingo.
The health-care company offers a range of products, but derives the bulk of its revenue from medical devices and diagnostic tools. Its 15-minute$263 million in Covid test sales, which is a notable decrease from the $2.3 billion it reported during the same period last year. Margaret Kaczor Andrew, a partner and research analyst at William Blair, told CNBC's Erin Black in May that Abbott has aroundof the global CGM market. FreeStyle Libre alone generated more than $1.3 billion in sales for Abbott during its second quarter, according to the company'sBut although the device is meant for patients with diabetes, it has also attracted a surprising new demographic.
But for a company that's spent the last 135 years working closely with doctors, researchers and other health-care experts, simple messaging can be a challenge. He said the experience forced him to learn to communicate with consumers better, which has helped inform his approach at Abbott going forward.