BioTelemetry reports Q1 EPS 42c, consensus 42c
Reports Q1 revenue $104M, consensus $104.1M. Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented: "The first quarter was another great quarter with record revenue and a strong adjusted EBITDA margin, both of which were in line with our expectations. Demand for our services remained strong with MCT and extended Holter services driving patient volume growth as well as a 9% increase in Healthcare revenue. Additionally, our Research division posted double-digit revenue growth while our digital population health business benefitted from the launch of a significant new managed care partnership. "During the quarter, we completed the acquisition of Geneva Healthcare, extending our remote cardiac monitoring reach into the $1 billion implantable cardiac monitoring market. We believe this transaction further reinforces our growth strategy and provides significant revenue upside for the company. Our excitement about Geneva continues to grow based on its early performance and the tremendous interest being generated from our top customers. We expect the combination of the benefits from the Geneva platform and our unmatched portfolio of remote cardiac monitoring services to further solidify our leadership position in cardiac monitoring.