Abbott Laboratories (NYSE:ABT) is a deep value stock to invest in now. On June 3, Abbott Laboratories (NYSE:ABT) entered into an expanded agreement with MiniMed. The two are joining forces to commercialize dual glucose-ketone sensors for integration with MiniMed smart dosing systems.

The monitoring sensors under commercialization are designed to enable real-time detection of rising ketone levels. Consequently, they are able to prevent diabetic ketoacidosis, a complication known for hundreds of thousands of hospitalizations in the US. The agreement builds on Abbott Laboratories and MiniMed’s existing partnership for the Instinct sensor.

While Abbott boasts of glucose-ketone systems, they are not yet cleared or available for sale in the US. Nevertheless, they have already received the European Union CE mark while undergoing FDA review. The mark covers the first dual-analyte sensor that measures glucose and ketones, designed to help people manage diabetes and detect rising ketone levels. The company plans to launch the systems in some European countries before the year’s end.

Abbott Laboratories (NYSE:ABT) is a dividend king, having increased payouts for 50 consecutive years. With an annualized dividend of $2.52, the stock yields about 2.7%. In May, the company paid a quarterly dividend of $0.63 a share.

Abbott Laboratories (NYSE:ABT) is a global healthcare company that researches, develops, and manufactures medical devices, diagnostic tests, nutritional products, and branded generic pharmaceuticals. They focus on helping people live healthier lives through innovative technology spanning the entire continuum of care.