BioTelemetry

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)

Key Developments

Date	Approach	Development
July 2019	Acquisition	BioTelemetry 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 2019	Acquisition	BioTelemetry 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 2017	Partnership	BioTelemetry 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 2017	Acquisition	BioTelemetry 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

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