Keeley Small Cap Fund on Tandem Diabetes Care Inc.
Thesis
Tandem is the number three player in the global automated insulin-pump market and is changing its commercial model toward pharmacy pay-as-you-go. A new tubeless product is another potential catalyst. Keeley believes successful execution on both initiatives could drive outsized revenue and profit growth over the next several years.
“both the transition and the new tubeless pump product have the potential to act as catalysts.”
Key risks
- Pharmacy transition started slower than expected
- Tubeless product remains pending approval