BioTelemetry to Acquire LifeWatch
BioTelemetry, Inc. (formerly known as CardioNet) and LifeWatch announced today that the companies have agreed to an acquisition agreement with which BioTelemetry will offer to acquire LifeWatch with the purchase of the outstanding stock of the Swiss company for an estimated total of $260 million. The acquisition has been approved by both companies
LifeWatch AG is a Swiss company with US headquarters in Illinois. Both LifeWatch & BioTelemetry have proven to be significant players is the two largest service companies providing Holter monitoring, cardiac event monitoring and mobile cardiac telemetry monitoring in the US market. BioTelemetry is most notable for pioneering their version of MCT monitoring with their proprietary line of MCOT™ monitors and LifeWatch with their version called ACT (ambulatory cardiac telemetry). The Companies will work together to create the new structure to maximize the strengths of each organization in the transition process.
Both Dr. Stephan Rietiker, (CEO of LifeWatch) Joseph H. Capper (CEO of BioTelemetry) agree the acquisition to be a positive step for both organizations and for the remote cardiac monitoring market segment. As the two distinct US leaders in the ambulatory cardiac monitoring space, bothy see common interests and benefits in combining mutual strengths.