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BioTelemetry to Acquire Geneva Healthcare to Strengthen Health Solutions in Cardiology Market.

MANews-(C)2009-2019

5 February 2019 - Pennsylvania, US-based remote medical technology company BioTelemetry, Inc. (NASDAQ: BEAT) has agreed to acquire California, US-based cardiac devices monitoring provider Geneva Healthcare, Inc. in a definitive merger agreement, the company said.

BioTelemetry will acquire Geneva for an upfront consideration of USD 45.0m in cash with additional performance-based earn-out consideration of no less than USD 20m.

The company will fund the transaction with either cash on hand, debt or equity or some combination thereof.

BioTelemetry said the enhanced offering this merger creates will benefit thousands of clients and solidify its leadership position in remote cardiac monitoring.

BioTelemetry, Inc. is the leading remote and wireless medical technology company focussed on the delivery of health information to improve quality of life and reduce cost of care.

Geneva Healthcare is a provider of remote monitoring for implantable cardiac devices.

The company transforms cardiac device data into actionable information to improve clinical workflow and patient care for electrophysiologist practices across the country.

Country: USA

Sector: Healthcare

Target: Geneva Healthcare

Buyer: BioTelemetry, Inc

Vendor:

Deal size in USD: 45m

Type: Corporate Acquisition

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Feb 5, 2019
Words:190
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