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News

Philips completes the acquisition of BioTelemetry, Inc.

Combination of Philips and BioTelemetry results in a global leader in patient care management solutions for the hospital and the home

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has completed the acquisition of BioTelemetry, Inc. (NASDAQ: BEAT), a leading U.S.-based provider of remote cardiac diagnostics and monitoring. BioTelemetry’s financial results will be consolidated as part of Philips’ Connected Care business segment as of February 9, 2021.

Philips successfully completes tender offer for BioTelemetry, Inc.

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has successfully completed its previously announced tender offer (the “Offer”) to purchase all outstanding shares of BioTelemetry, Inc. (NASDAQ: BEAT), a leading U.S.-based provider of remote cardiac diagnostics and monitoring for USD 72.00 per share in cash. At 12:00 midnight, New York time, on February 9, 2021 (one minute after 11:59 P.M., New York time, on February 8, 2021), the Offer expired as scheduled and was not extended. Philips expects to complete the acquisition of BioTelemetry later today through a merger under Section 251(h) of the General Corporation Law of the State of Delaware. American Stock Transfer & Trust Company, LLC, the depositary for the

Philips to Acquire BioTelemetry

Philips to acquire BioTelemetry, Inc. for USD 72.00 per share; implied enterprise value of USD 2.8 billion (approx. EUR 2.3 billion) Acquisition is a strong fit with Philips’ strategy to transform the delivery of healthcare: combination of Philips’ leading patient monitoring position in the hospital with BioTelemetry’s leading cardiac diagnostics and monitoring position outside the hospital With 2019 sales of USD 439 million, BioTelemetry annually monitors over 1 million cardiac patients remotely; its portfolio includes wearable heart monitors, AI-based data analytics and services Combination will result in significant synergies driven by cross-selling opportunities, geographical expansion, portfolio innovation synergies, and productivity gains BioTelemetry business is expected to deliver double-digit growth and improve its Adjusted EBITA margin to over 20% by 2025; acquisition will be sales growth

BioTelemetry, Inc. Reports Third Quarter 2020 Financial Results

Posts Record Quarterly Revenue Amidst Rapid Recovery MALVERN, Pa., Oct. 29, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc. (NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today reported results for the quarter ended September 30, 2020. Quarter Highlights Recognized quarterly total revenue of $114.7 million Reached 3.0% year-over-year quarterly revenue growth, despite the impact of COVID-19 Reported quarterly GAAP net income of $6.7 million, or 5.9% of total revenue Realized quarterly adjusted EBITDA of $30.6 million, or 26.7% of total revenue Acquired Remote Patient Monitoring (“RPM”) assets from a subsidiary of Centene Corporation President and CEO Commentary Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented: “We are

BioTelemetry, Inc. to Release Third Quarter 2020 Earnings Results on October 29, 2020

MALVERN, Pa., Oct. 22, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc. (NASDAQ:BEAT) will release its third quarter 2020 earnings on Thursday, October 29 at 4:00 PM Eastern Time. BioTelemetry, Inc. will host an earnings conference call on Thursday, October 29, at 5:00 PM Eastern Time.  The call will be webcast on the investor information page of our website, investors.gobio.com.  The call will be archived on our website for at least two weeks. About BioTelemetry BioTelemetry, Inc. is the leading remote medical technology company focused on delivery of health information to improve quality of life and reduce cost of care.  We provide remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing that serves both healthcare and clinical research

BioTelemetry, Inc. Reports Second Quarter 2020 Financial Results

Posts Strong Results and Ramps Up Business Development Activity MALVERN, Pa., July 30, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc. (NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today reported results for the quarter ended June 30, 2020. Company Highlights Recognized quarterly total revenue of $99.1 million Total revenue declined 11.4% year-over-year due to the impact of COVID-19 across most of our businesses Reported quarterly GAAP net income of $2.3 million, or 2.3% of total revenue Realized quarterly adjusted EBITDA of $25.6 million, or 25.8% of total revenue Acquired Remote Patient Monitoring (“RPM”) assets from a subsidiary of Centene Corporation Entered into Sales Agent Agreement with Boston Scientific Assumed responsibility to

BioTelemetry, Inc. Announces Sales Agent Agreement with Boston Scientific Corporation

Company expands portfolio of solutions with groundbreaking insertable cardiac monitor system MALVERN, Pa., July 30, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc.(NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today announced a sales agent agreement with Boston Scientific (NYSE:BSX), a global medical technology leader.  With this agreement, BioTelemetry becomes a sales agent in the United States for the Boston Scientific LUX-Dx™ Insertable Cardiac Monitor (ICM) System to an agreed upon subset of customers.  The LUX-Dx ICM System is the first ICM device with remote programming and also offers a dual-stage arrythmia detection algorithm.  BioTelemetry will discuss further details about the relationship during its second quarter earnings call scheduled for Thursday, July 30

BioTelemetry, Inc. Acquires Remote Patient Monitoring Platform from Centene Subsidiary

Expands relationship to serve Centene members MALVERN, Pa., July 29, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc. (NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today announced it has acquired the On.Demand™ remote patient monitoring (RPM) and coaching platform, operated by Envolve People Care, Inc., a Centene Corporation subsidiary.  This acquisition adds chronic RPM and coaching solutions to BioTelemetry’s current suite of acute care connected health products and services, focusing specifically on diabetes, hypertension and chronic heart failure. As part of this acquisition, and under the companies’ strategic partnership agreement, BioTelemetry becomes the exclusive provider of diabetes RPM services to Centene Medicaid members currently utilizing, implementing or engaged to implement the

BioTelemetry, Inc. to Release Second Quarter 2020 Earnings Results on July 30, 2020

MALVERN, Pa., July 23, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc.(NASDAQ:BEAT) will release its second quarter 2020 earnings on Thursday, July 30 at 4:00 PM Eastern Time. The BioTelemetry quarterly conference call will be held at 5:00 PM Eastern Time, Thursday, July 30, 2020.  The broadcast will be available through the investor information section of the BioTelemetry website www.gobio.com.  If you are unable to participate during the live webcast, an archive will be available on the website for two weeks. About BioTelemetry BioTelemetry, Inc. is the leading remote medical technology company focused on delivery of health information to improve quality of life and reduce cost of care.  We provide remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment