This Slide: #66 of 100 |
Slide #66. BioTelemetry, Inc. — Cardiac Patient Services Business of Biomedical Systems, Corp.
Acquirer:
BioTelemetry, Inc. (NASDAQ:BEAT)
Acquiree:
Cardiac Patient Services Business of Biomedical Systems, Corp.
Details:
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.
HeartBeam is a medical technology company primarily focusing on telemedicine solutions that enable the detection and monitoring of cardiac disease outside a healthcare facility setting. Co.'s initial focus is providing diagnostic data to help physicians with care management of patients with cardiovascular disease. Co. is developing its telehealth Product to address the field of remote patient monitoring. Co.'s telehealth Product is comprised of a credit card sized ECG machine and a cloud-based diagnostic software exert system. Co. is applying its platform technology to create a software tool for detecting heart attacks in the Emergency Room environment.
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