Medtronic Inc., a medical technology company headquartered in Dublin, Ireland with its insulin pump division in Northridge, plans to work with Palo Alto-based Tidepool on an automated insulin pump system for diabetes, according to a statement from the companies on Friday.

Medtronic is developing a Bluetooth-enabled MiniMed pump that will be compatible with Tidepool Loop, a future FDA-regulated, open source automated insulin delivery app for the iPhone and Apple Watch.

Tidepool Loop will run an algorithm every five minutes to adjust a user’s base insulin rate for the next 30 minutes, reducing or avoiding high and low blood glucose. The company expects the app to be compatible with multiple in-warranty pumps and continuous glucose monitors.

“We have been listening and engaging with the diabetes community to understand what is important to them. We recognize that collaboration with Tidepool is a way to further drive industry innovation,” Ali Dianaty, vice president of research and development for the Diabetes Group at Medtronic, said in a statement.

“We think that Medtronic is making a very bold and important move here that shows tremendous courage and is the absolutely right thing for the diabetes community,” added Howard Look, chief executive of Tidepool. “This network can help bring closed-loop systems to more people living with diabetes.”