December 18, 2020 // By Nick Flaherty
Philips says it is to merge with leading US-based home heart monitoring firm BioTelemetry in a €2.3bn cash deal.
The all-cash deal with BioTelemetry (Malvern, PA) will boost Philips’ home monitoring Connected Care division and brings a US clinical trials division. The deal also brings a US cloud patient monitoring system at a time when the handling of patient data will be a key issue between the US and Europe.
BioTelemetry has 1900 staff and sales of $439m in 2019 with several acquisitions of European medical systems companies in the last two years, including Lifewatch AG in Switzerland and ADEA Medical AB in Sweden.