Digirad Acquires Telerhythmics Cardiac Event Monitoring Company
March 14, 2014
The mobile nuclear imaging company Digirad Corporation acquired an ambulatory cardiac monitoring service company in Memphis Tennessee called Telerhythmics, LLC. Telerhythmics provides Holter Monitoring, Cardiac Event Monitoring and Mobile Cardiac Telemetry Monitoring for cardiovascular clinics, doctors offices and hospitals. Telerhythmics is a 20 year old, privately-held service company with regional strength on the east coast.
Telerhythmics generated approximately $5.6 million in revenue in 2013The purchase was said to be $3.6 million with assumption of approximately $131,000 in debt. Telerhythmics will continue to operate from its current facility in Memphis. Telerhythmics & Digirad have a similar market focus in that they both offer a service platform to the same market segment. This acquisition seemed to be a logical fit for Digirad as they plan to expand their service offering to include ambulatory cardiac monitoring to their customers.
Wall Street Journal – http://online.wsj.com/article/PR-CO-20140314-911411.html
