Malvern-based BioTelemetry is about to transplant a major competitor into its family, as long as there’s enough life pulsing through the veins of the $257.4 million proposal to acquire Switzerland’s LifeWatch.
If 67 percent or more of LifeWatch shares are tendered, in exchange for 10 Swiss francs and 0.1457 shares or eight francs and 0.2185 shares, BioTelemetry will put down the necessary cash, debt, and equity for the deal, according to a Philadelphia Business Journal report by John George.
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“We believe the combination of the two innovative remote cardiac monitoring companies creates a unique opportunity to build an immensely successful connected health platform, capable of delivering highly-sought-after, life-saving, and cost-reduction solutions,” said BioTelemetry President and CEO Joseph Capper.
“If the tender offer is successful, this transaction is expected to yield considerable efficiencies, creating tremendous shareholder value.”
Read more details about the acquisition proposal in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of BioTelemetry here.
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