Abbott Laboratories (ABT) said studies link its FreeStyle Libre continuous glucose monitoring technology to a "significant" reduction" in heart-related hospitalizations among diabetes patients.

The studies indicate that FreeStyle Libre may reduce the severity of cardiovascular complications in people with type 1 diabetes, the company said Thursday in a statement.

Findings also showed a similar decrease in heart-related hospitalizations among insulin-dependent type 2 diabetes patients using the technology, Abbott said.

The Libre technology may "lead to lower healthcare costs due to the reduction in hospital admissions related to heart complications," the company said.

The studies, funded by Abbott, were conducted using data from the Swedish National Diabetes Register.

Abbott's shares rose 2.6% in recent trading Thursday.

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