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Philips completes the acquisition of BioTelemetry

Press releases may be edited for formatting or style | February 09, 2021 Business Affairs Cardiology Health IT Patient Monitors Telemedicine


The acquisition of BioTelemetry was structured as a merger under Section 251(h) of the General Corporation Law of the State of Delaware following the successful completion of Philips' previously announced tender offer to purchase all outstanding shares of common stock of BioTelemetry for USD 72.00 per share in cash, without interest, less any applicable withholding taxes. As a result of the merger, all remaining BioTelemetry shares were converted into the right to receive USD 72.00 per share in cash, without interest, less any applicable withholding taxes.

BioTelemetry has requested that NASDAQ files a Form 25 with the United States Securities and Exchange Commission causing the delisting of BioTelemetry's common stock from NASDAQ. BioTelemetry's common stock ceased trading prior to the opening of trading on February 9, 2021.

[1] Adjusted EBITA is defined as income from operations excluding amortization of acquired intangible assets, impairment of goodwill and other intangible assets, restructuring charges, acquisition-related costs and other significant items.

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries.

About BioTelemetry
BioTelemetry, Inc. is the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care. The company provides remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing that serves both healthcare and clinical research customers.

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