BioTelemetry acquires Telcare Medical Supply, associated assets
BioTelemetry announced the acquisition of Telcare Medical Supply and associated assets, increasing the company's presence in the large and rapidly growing digital population health management market. As an early stage technology-enabled service platform, Telcare was the first company to receive FDA clearance for a cellular-enabled Blood Glucose Monitoring, or BGM, system. This wireless BGM system transmits real-time results to a cloud-based analytical engine, which synthesizes the data, monitors trends and provides caregivers with critical information about the patients' health status and the potential need to intervene. BioTelemetry acquired Telcare Medical Supply, Inc. and associated assets for upfront consideration of $7M in cash with the potential for additional performance-based earn-outs of up to $5.0 million in cash. Telcare is expected to generate over $5M in revenue on an annualized basis and be near breakeven by the end of 2017.