BioTelemetry

History

2020: Philips purchased BioTelemetry for $2.8 billion

In the middle of December, 2020 Philips announced purchase of BioTelemetry company for $2.8 billion BioTelemetry first of all specializes in diagnostics and monitoring of violations of a warm rhythm, the corresponding devices make 85% of its sales.

Offers of BioTelemetry include wearable cardiomonitors (for example, a mobile cardiological patch for out-patient telemetry and the Holtera monitor) which detect anomalies of a warm rhythm and announce them on a wireless network. Besides, the company provides services in analytics of data on the basis of AI. The BioTelemetry company services more than 30,000 doctors a month and more than 1 million patients a year. Besides, BioTelemetry provides services of testing for the companies which carry out clinical trials. The sales volume of BioTelemetry company in 2019 was $439 million.

Philips purchased BioTelemetry for $2.8 billion

According to the agreement, Philips started the tender offer on acquisition of all of the stocks of BioTelemetry issued and being in circulation at the price of $72 for an action with cash payment upon completion of the transaction so the expected cost of the enterprise will be $2.8 billion. The Board of Directors of BioTelemetry approved the agreement, and it is expected that the deal will be closed in the first quarter 2021.

The current portfolio of Philips includes monitoring of patients in real time, therapeutic devices, services of telemedicine and data analysis. About 300 million patients in hospitals and also about 10 million patients with respiratory diseases allow to pass annually integrated solutions of Philips monitoring at home. Accession of BioTelemetry will allow Philips to take the leading positions in the market of remote monitoring of patients. Besides, experts note possibilities of expansion of the market of Philips, synergy effect of integration of achievements of two companies and performance improvement, the press release says.^[1]

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