BioTelemetry, Inc., the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, announced today that the Company has completed its acquisition of Geneva Healthcare, Inc., the leading provider of remote monitoring for implantable cardiac devices.
Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented: “We are excited to welcome the Geneva team to BioTelemetry. This talented group of individuals has significantly transformed the way physician offices consolidate and manage data from implantable cardiac devices, giving precious time back to the staff to focus on patient care. Geneva’s market-leading platform and service, along with our scale and resources, make a formidable combination that will provide substantial benefits to the thousands of practices we serve. We look forward to working with the Geneva team to further solidify our leadership position in remote cardiac monitoring.
“Looking forward, for 2019 we expect Geneva to contribute at least $10 million of revenue with gross margin in excess of 60%. In the near term, our focus for Geneva will be on customer acquisition and top-line growth. As an early stage company, we will need to make investments in the business to support this goal. As such, we do not anticipate Geneva to be accretive to earnings in the first year post-acquisition.”
Date: March 11, 2019