Philips to Acquire BioTelemetry for $2.8b

Netherlands-based Philips (NYSE:PHG) announced it is buying BioTelemetry (Nasdaq: BEAT) to extend its hospital-based remote patient monitoring reach to outpatient settings.  BioTelemetry’s offerings include wearable heart monitors (i.e. a mobile cardiac outpatient telemetry patch and extended Holter monitor) that wirelessly detect and transmit abnormal heart rhythms.  85% of BioTelemetry’s sales relate to the diagnosis and monitoring of heart rhythm disorders.  BioTelemetry monitors over 1 million cardiac patients remotely each year.  Deal terms – $2.8b on sales of $439m (6.4x) and EBITDA of $128.6m (21.8x).

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Remote Patient Monitoring