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Philips successfully completes tender offer for BioTelemetry, Inc.
Royal PhilipsFebruary 9, 2021 GMT February 9, 2021
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has successfully completed its previously announced tender offer (the “Offer”) to purchase all outstanding shares of BioTelemetry, Inc. (NASDAQ: BEAT), a leading U.S.-based provider of remote cardiac diagnostics and monitoring for USD 72.00 per share in cash. At 12:00 midnight, New York time, on February 9, 2021 (one minute after 11:59 P.M., New York time, on February 8, 2021), the Offer expired as scheduled and was not extended. Philips expects to complete the acquisition of BioTelemetry later today through a merger under Section 251(h) of the General Corporation Law of the State of Delaware.
Royal Philips: Philips completes the acquisition of BioTelemetry, Inc. February 9, 2021
Combination of Philips and BioTelemetry results in a global leader in patient care management solutions for the hospital and the home
Amsterdam, the Netherlands -
The
acquisitionof 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 platformoptimized for the delivery of health care across care settings.
December 22, 2020
Cambridge, MA –
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and
BioIntelliSense, Inc. [1], a continuous health monitoring and clinical intelligence company, today announced they have been selected by the U.S. Army Medical Research and Development Command (USAMRDC) to receive nearly USD 2.8 million from the U.S. Department of Defense (DoD) through a Medical Technology Enterprise Consortium (MTEC) award to validate BioIntelliSense’s FDA-cleared BioSticker device for the early detection of COVID-19 symptoms. The goal of the award is to accelerate the use of wearable diagnostics for the benefit of military and public health through the early identification and containment of pre-symptomatic COVID-19 cases.
Royal Philips: Philips to become a global leader in patient care management solutions for the hospital and the home through the acquisition of BioTelemetry, Inc.
USD 72.00 per share; implied enterprise value of USD 2.8 billion (approx. EUR 2.3 billion)
Acquisition is a strong fit with Philips strategy to transform the delivery of healthcare: combination of Philips leading patient monitoring position in the hospital with BioTelemetry s leading cardiac diagnostics and monitoring position outside the hospital
With 2019 sales of USD 439 million, BioTelemetry
annually monitors over 1 million cardiac patients remotely; its portfolio includes wearable heart monitors,
AI-based data analytics and services
C
eographical expansion, portfolio innovation synergies
Philips to Become a Global Leader in Patient Care Management Solutions for the Hospital and the Home Through the Acquisition of BioTelemetry, Inc. koreabizwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreabizwire.com Daily Mail and Mail on Sunday newspapers.