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BioTelemetry

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BioTelemetry - Healthcare showcase

Year Founded & Workforce

1994

1,600 Employees

Industry

Healthcare

Services

Mobile Cardiac TelemetryEvent MonitoringExtended Holter Monitoring
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BioTelemetry Overview

Company Headquarters: Pennsylvania, US

Founded: 1994

Workforce: ~1,600

Company Working: BioTelemetry provides monitoring services and digital population health management to healthcare providers. It also develops and manufactures medical devices and centralized core laboratory services for clinical research. The company is focused on cardiac monitoring and has developed a proprietary integrated patient management platform to transmit data through the wireless network. It has three business segments, namely, healthcare, research, and technology.

Strategy

BioTelemetry focuses on increasing the overall demand for its cardiac monitoring services, expanding its presence in the research market, and leveraging its core competencies to avail of new market opportunities. The company aims to strengthen its position in the market. It further aims to increase its cardiac monitoring sales by educating cardiologists, electrophysiologists, and neurologists on the benefits of using mobile cardiac telemetry to meet their arrhythmia monitoring needs.

Company Snapshot

$178.5M

Revenue

1,600

Employees

1994

Founded

Pennsylvania, US

Headquarters

SWOT Analysis

Strengths

  • Strong presence on online portal
  • Growing regional presence
  • Rising brand loyalty
  • Strong presence through online portals
  • Mergers and acquisitions
  • Strong brand loyalty

Weaknesses

  • Less expenditure on research and development activities
  • Poor post purchase services
  • Limited to the US market only
  • Low investment on research and development

Opportunities

  • Unmet medical needs in developing and underdeveloped regions
  • Expanding presence in the research market to diversify company’s service offerings
  • Expand into new market areas that require outpatient or ambulatory monitoring and management

Threats

  • Changing regulatory policies
  • Growing competition
  • Outstanding debt, which could adversely affect the company’s financial condition
  • Company’s financing cost is affected by the interest rate on loans set by LIBOR (London interbank offered rate)

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Key Developments

DateApproachDevelopment
July 2019AcquisitionBioTelemetry acquired ADEA Medical AB, a medical technology company, with Sweden-based operations. ADEA Medical AB provides remote health services in the Nordics. This acquisition will help BioTelemetry in achieving a long-term strategic plan to increase its international footprint.
March 2019AcquisitionBioTelemetry acquired Geneva Healthcare, Inc. (headquarter in New Zealand, Oceania), one of the leading providers of remote monitoring for implantable cardiac devices. This acquisition will solidify the company’s leadership position in the remote cardiac monitoring market.
November 2017PartnershipBioTelemetry came in partnership with Apple Inc. (headquarter in California, US) to provide cardiac monitoring services in combination with the Apple Heart Study. This partnership is an initiative to benefit the individuals who are unaware that they might be at risk of serious health problems.
July 2017AcquisitionBioTelemetry acquired LifeWatch, a supplier of mobile cardiac monitoring solutions, with US-based operations. This acquisition will aid in developing innovative remote cardiac monitoring solutions and providing solutions to meet the upcoming challenges of the healthcare industry.

Product Offering

  • BioTelemetry
    • Mobile Cardiac Telemetry
    • Event Monitoring
    • Extended Holter Monitoring

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 178.5 Mn in 2015 to USD 399.5 Mn in 2018.
BioTelemetry — By Business Segment
Series (USD Mn)2015201620172018
Sales178.5208.3286.8399.5
R&D Expenditure7.18.411.111.2
SBU breakup-29.518-2.149.8

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