Abbott Laboratories

(ABT) - Get Report

said Monday it has received the go-ahead from the U.S.

Food and Drug Administration

for a new diabetes management system that is the first automated glucose monitor to offer lancing, blood collection and glucose testing with a single press of a button.

The healthcare company said Sof-Tact, which will be called Soft-Sense in Europe, is an alternative to painful finger-prick testing as it draws blood samples from less-sensitive areas of the body using a new strip technology that requires less blood. The integration of blood sampling and testing also eliminates many user-generated errors in manual testing, the company said.

Sof-Tact follows the recent launch of Precision Xtra, the company's diabetes management system that measures both blood glucose and blood ketone levels.