Philips Wraps Up $2.8 Billion Acquisition of BioTelemetry

Philips has completed a $2.8 billion acquisition of BioTelemetry, a major provider of remote monitoring and diagnostic devices for heart rhythm disorders.

With the purchase of the Malvern, Penn., company, Philips gains a range of outpatient cardiac diagnostics and monitoring services, including wearable heart monitors that detect and transmit abnormal heart rhythms wirelessly and provide artificial intelligence-based data analytics.

BioTelemetry’s remote cardiac-monitoring service networks reach more than 1 million patients per year.