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Shares of glucose monitoring company Dexcom have been praised by US Health Secretary Robert F Kennedy Jr., who praised the medical “wearables,” saying that within four years all Americans would like to use the technology.
Kennedy said in Congress that the Department of Health and Human Services would launch a major advertising campaign to encourage Americans to use wearables.
“We believe wearables are key to Maha’s agenda,” Kennedy said. “My vision is that all Americans will be wearing wearables within four years.”
Kennedy’s comments come from the interests of wearables and fitness trackers among consumers and investors. Last year, the Food and Drug Administration gave the first approval of certain serial glucose monitors, including those sold by Dexcom for individuals without prescriptions. Also, Abbott Laboratories, which makes CGM, rose nearly 4%, following Kennedy’s comments.
“Ozempic costs $1,300 a month,” Kennedy said Tuesday of the weight loss pills Novo Nordisk created. “If you can achieve the same with a $80 wearable, it’s far better for Americans.”
Members of the Trump administration have something to do with the wearable business. Casey Means, a US surgeon with President Donald Trump, co-founded health at the health surveillance company level, which is affiliated with DEXCOM for glucose tracing. New York-based Rebel raised funds from venture company Andreessen Horowitz. Means brother Carrie Means is Kennedy’s top advisor.
San Diego-based Dexcom sells adhesive patches that track glucose in real time. The product is designed for people with diabetes, but is popular with those interested in tracking their health.
Dexcom has partnered with Apple, Garmin and Google to connect patches to smart devices. Google bought the Fitbit fitness tracker in 2019 for $2.1 billion.
Earlier this month, Dexcom hired lobbying company Continental Strategy. This hired Katie Wills, daughter of Trump’s director Susie Wills.
Oura Health, a Finland-based wearables company, also employs lobbyists. In April, Wella, who sells a ring that tracks sleep and vital signs, hired a ballad partner who has a close relationship with Trump. This month, Wella revealed that he had hired his first in-house lobbyist.
In December, Wella said it raised $200 million and raised its valuation to $5.2 billion. As part of its fundraising, Dexcom said it had invested $75 million in USOS and announced a partnership to allow glucose data to flow between both products.
Dexcom and Oura did not immediately respond to requests for comment.
