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Hillrom to buy cardiac monitoring company Bardy Diagnostics for $375M
Hillrom will buy Bardy Diagnostics, a startup that makes a wearable ECG patch, for $375 million in cash.
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In another deal for cardiac monitoring, Hillrom (NYSE: HRC) will buy Seattle-based startup Bardy Diagnostics for $375 million. The company, which was founded in 2013 by electrophysiologist Dr. Gust Bardy, makes an electrocardiogram (ECG) patch that can be worn for up to two weeks to help physicians detect arrhythmias.
In addition to its technology, Bardy Diagnostics’ 230 employees are expected to join the company, Hillrom President and CEO John Grotelaars said in a news release.
Health tech giant Hillrom to acquire Seattle startup Bardy Diagnostics for $375M
January 19, 2021 at 10:31 am
Dr. Gust Bardy, founder of Bardy Diagnostics. (Bardy Photo)
Hillrom, a publicly-traded medical device and digital health company based in Chicago, will pay $375 million to acquire Seattle startup Bardy Diagnostics.
Founded in 2013, Bardy set out to change the way medical professionals monitor heart conditions with a non-invasive cardiac monitor patch that helps detect arrhythmia. The Carnation Ambulatory Monitor, or CAM for short, is designed to be worn comfortably for approximately a week, with the goal of improving patient compliance. It uses a unique circuit design and algorithms to process P-wave recording. Bardy claims that its device captures clearer and more accurate heart rhythms than competing electrocardiography (ECG) monitors.