Royal Philips, a global leader in health technology, announced that it has completed the acquisition of BioTelemetry, Inc., a leading US-based provider of remote cardiac diagnostics and monitoring. BioTelemetry’s financial results will be consolidated as part of Philips’ Connected Care business segment as of February 9, 2021.
The acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions. Philips’ patient care management solutions for the hospital include real-time patient monitoring, therapeutic devices, telehealth and informatics. Moreover, Philips has an advanced and secure cloud-based Philips HealthSuite digital platform optimized for the delivery of health care across care settings.
With 2020 sales of US$ 450 million, BioTelemetry adds a complete range of clinically validated ambulatory cardiac diagnostics and monitoring services: Short-term Holter monitoring services, Long-term Holter monitoring services, Event recorder services, and Mobile Cardiac Outpatient Telemetry (MCOT) services. BioTelemetry has built one of the world’s largest remote cardiac monitoring services networks, providing services for over one million patients per year. Additionally, BioTelemetry has a clinical research business that provides testing services for clinical trials.