BioTelemetry To Buy Biomedical Systems' Cardiac Patient Services Business

(RTTNews) - BioTelemetry, Inc. (BEAT) said Thursday that it has agreed to buy the cardiac patient services business of Biomedical Systems, Corp. 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 deal is expected to close in early April.

All assets necessary to run the Holter, cardiac event and mobile telemetry service lines are transferring to BioTelemetry, including the Century Holter Analysis System, a fast and accurate software platform with multiple configurations designed to satisfy the needs of small and large volume accounts. The analysis software works seamlessly with the full line of BioTelemetry Holter recorders, including the recently FDA-cleared 14-day Holter, CardioKey.