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Slide #66. BioTelemetry, Inc. — Cardiac Patient Services Business of Biomedical Systems, Corp.
BioTelemetry, Inc. (NASDAQ:BEAT)
Cardiac Patient Services Business of Biomedical Systems, Corp.
BioTelemetry, Inc. (Nasdaq:BEAT), the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, announced that it has entered into a definitive agreement to acquire the cardiac patient services business of Biomedical Systems, Corp. ("BMS") for aggregate consideration of $8.65 million at closing. Post integration, the acquisition is expected to generate $8.0 to $9.0 million in revenue and $2.5 to $3.0 million in EBITDA on an annualized basis. The transaction is expected to close in early April.
BioTelemetry is a remote medical technology company focused on delivery of health information. Co. provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials and original equipment manufacturing that serves both healthcare and clinical research customers. Co. operates under two reportable segments: Healthcare, which is focused on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders; and Research, which is engaged in central core laboratory services providing cardiac monitoring, imaging services, scientific consulting and data management services for drug and medical device trials.
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Buy (3.25 out of 4)
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