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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, centralized core laboratory services, remote blood glucose monitoring, and original equipment manufacturing that serves both healthcare and clinical research customers. Co.'s segments are: Healthcare, which is focused on remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders and to monitor the functionality of implantable cardiac devices; and Research, which is engaged in centralized core laboratory services providing cardiac monitoring, imaging services, consulting and data management services for drug and medical device trials.
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Strong Buy (4.00 out of 4)