Philips Can Take Over BioTelemetry

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Healthcare technology company Philips has acquired the American industry peer BioTelemetry.

 

Sufficient shareholders of the company, which makes devices and provides services to monitor heart patients’ health remotely, accepted the takeover offer from Philips.

The takeover will be officially completed later Tuesday.

Philips pays 2.8 billion dollars for BioTelemetry, which is equivalent to 2.3 billion euros. More than 83 percent of the shares were tendered before the deadline, which was enough for the offer to succeed.

Philips had made its bid for BioTelemetry in mid-December and is already a leading player when it comes to monitoring patients in hospitals themselves. With the acquisition, the Dutch company also expects to be able to expand rapidly by monitoring patients at home.

“The acquisition of BioTelemetry fits perfectly in our strategy,” emphasized Philips CEO Frans van Houten at the end of last year.

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