Philips to Acquire BioTelemetry for ~$2.8B

Shots:

  • Philips to acquire all outstanding shares of BioTelemetry and its wearable heart-tracking devices for $72/ share in cash with a 16.5 % premium to a closing price of BioTelemetry on Dec 17, 2020, making a total value ~$2.8B. The transaction is expected to be completed in Q1’21
  • The acquisition complements Philips’ cardiac care portfolio and its strategy to transform the delivery of care along the health continuum with integrated solutions
  • The acquisition integrates Philips’ patient monitoring position in the hospital with BioTelemetry’s cardiac diagnostics and monitoring position outside the hospital

Click here ­to­ read full press release/ article | Ref: Philips | Image: Bloomberg Quint

The post Philips to Acquire BioTelemetry for ~.8B first appeared on PharmaShots.