February 13, 2012
Mobile cardiac outpatient telemetry services provider CardioNet announced last week the acquisition of ECG Scanning & Medical Services, a cardiac monitoring provider, for $5.8 million in cash. The deal price could include an additional $600,000 cash earn out if certain performance milestones are met.
"We are excited to join forces with ECG Scanning. ECG Scanning is a respected cardiac...
November 10, 2010
CardioNet has announced plans to acquire Biotel in a definitive merger agreement for $11 million in cash, which includes a settlement agreement to dismiss the lawsuit between them. CardioNet had previously announced plans to acquire Biotel but cancelled the plans three days after the CMS contractor that reimbursed for its services dropped the reimbursement rate by almost one third. Interestingly...
November 20, 2009
The Wall Street Journal has an incendiary profile piece on the Jeffries analyst, Brian Kennedy, who predicted that Highmark CMS would cut its reimbursement rate for CardioNet's wireless cardiac monitoring service. CardioNet is the only public company fully focused on wireless health, which makes it a true pioneer for the emerging industry.
While the aftermath that followed Kennedy's April...
July 28, 2009
CardioNet's Director of Business Development Aaron Goldmuntz laid out his company's growth strategy during a presentation this morning at Qualcomm's Smart Services Leadership Summit here in San Diego. Immediate opportunities for growth, Goldmuntz said, included leveraging CardioNet's platform to develop additional applications that relate to atrial fibrillation. Adjacent markets could include...
July 14, 2009
It's been a tough couple of months for wireless arrhythmia monitoring company CardioNet: The company has terminated its plans to acquire Minnesota-based Biotel, which has its own cardiac arrhythmia monitoring business, an experienced design and development team plus manufacturing capabilities that were set to support CardioNet's growing business. The deal was originally pegged at $14 million but...
May 15, 2009
CardioNet, the only pure play wireless health company that has gone public, began selling a sleep disorders clinical indicator, called SomNet. The company believes that SomNet has the potential to identify patients with a high likelihood of sleep disorders by measuring cyclic variation of heart rate (CVHR), a rhythm that is caused by repeated arousals from sleep because of the disorders.
April 2, 2009
This morning wireless cardiac monitoring company CardioNet announced its intent to acquire Minnesota-based Biotel for $14 million. CardioNet is particulary interested in Biotel's Agility Centralized Research Services, which is based in Chicago, and provides ECG monitoring services to the medical device and pharma industries as well as to contract research and academic research organizations.