Philips to Acquire BioTelemetry for ~$2.8B

 Philips to Acquire BioTelemetry for ~$2.8B

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

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

Related post