A logo sign outside of a facility occupied by BioTelemetry Inc in Malvern, Pennsylvania on May 4, 2020. — Reuters pic
THE HAGUE, Dec 18 — Dutch electronics giant Philips said today it was buying US remote cardiac monitoring firm BioTelemetry for US$2.8 billion . The purchase comes as Philips, formerly best known for home appliances, moves into health equipment sales. “The acquisition of BioTelemetry fits perfectly with our strategy to be a leading provider of patient care management solutions for the hospital and the home,” said Philips chief executive Frans van Houten in a statement.
BioTelemetry focuses on wearable heart monitors for the diagnosis and monitoring of heart rhythm disorders, with over a million patients a year, Philips said.Philips sold off its home appliance arm in January to fully concentrate on health sector products.Related Articles