Health IT

Heart monitoring company CardioNet makes $6 million acquisition

Heart monitoring company CardioNet (NASDAQ:BEAT),which diagnoses and monitors irregular heartbeats, has acquired another cardiac monitoring company in a deal valued at more than $6 million. The acquisition target, Ohio-based ECG Scanning & Medical Services, will enable the Philadelphia, Pennsylvania-based company to expand its customer base across the Midwest, a company statement said. CardioNet President and […]

MedCity Influencers

CardioNet knocks again at Biotel’s door

CardioNet Inc. (NASDAQ:BEAT) is giving its failed attempt to acquire cardiac monitor developer Biotel Inc. (OTC:BTEL) another shot. The Conshohocken, Pennsylvania-based wireless cardiac device maker today announced its plans to purchase Eagan, Minnesota-based Biotel Inc. for $11 million, or $3.84 per share, a 156 percent premium over its Nov. 5 closing price of $1.50. CardioNet […]

Devices & Diagnostics

CardioNet wins investor lawsuit

Mobile cardiac monitoring firm CardioNet Inc. logs a win in a shareholder lawsuit accusing it, its CEO and CFO of misleading investors over its prospects for high Medicare reimbursement. CardioNet Inc. (NSDQ:BEAT) won a lawsuit filed against it by shareholders last year, accusing the mobile cardiac monitoring firm of misleading investors about Medicare reimbursement. Judge […]