CardioNet, Inc. Holding Company Structure Effective
August 01 2013 - 8:30AM
CardioNet, Inc. and BioTelemetry, Inc. (Nasdaq:BEAT) announced
today that their holding company reorganization, which was approved
by shareholders on July 25, 2013, was effective as of 5:00pm,
Wednesday July 31, 2013. As a result, BioTelemetry, the new public
company, will begin to trade on the NASDAQ Stock Market under the
ticker "BEAT" upon the opening of the market on August 1,
2013. At the effective time of the reorganization, each
outstanding share of CardioNet common stock was automatically
converted into one share of BioTelemetry common stock. From a
shareholder perspective, the delisting of CardioNet and
simultaneous listing of BioTelemetry will be seamless and
effectively amount to a name change.
About BioTelemetry / CardioNet
BioTelemetry, Inc., formerly known as CardioNet, Inc., is the
leading wireless medical technology company focused on the delivery
of health information to improve quality of life and reduce cost of
care. The Company currently provides cardiac monitoring
services, original equipment manufacturing with a primary focus on
cardiac monitoring devices and centralized cardiac core laboratory
services. More information can be found at
www.cardionet.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document includes certain forward-looking statements within
the meaning of the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, our expectations regarding the effect of the creation of a
new holding company structure and the effect, including on our
growth prospects, of the new holding company structure. These
statements may be identified by words such as "expect,"
"anticipate," "estimate," "intend," "plan," "believe," "promises"
and other words and terms of similar meaning. Such forward-looking
statements are based on current expectations and involve inherent
risks and uncertainties, including important factors that could
delay, divert, or change any of these expectations, and could cause
actual outcomes and results to differ materially from current
expectations. These factors include, among other things, effects of
changes in health care legislation, effectiveness of our cost
savings initiatives, relationships with our government and
commercial payors, changes to insurance coverage and reimbursement
levels for our products, the success of our sales and marketing
initiatives, our ability to attract and retain talented executive
management and sales personnel, our ability to identify acquisition
candidates, acquire them on attractive terms and integrate their
operations into our business, the commercialization of new
products, market factors, internal research and development
initiatives, partnered research and development initiatives,
competitive product development, changes in governmental
regulations and legislation, the continued consolidation of payors,
acceptance of our new products and services, patent protection,
adverse regulatory action, litigation success, our ability to
successfully create a new holding company structure and to
anticipate the benefits of such structure. For further details and
a discussion of these and other risks and uncertainties, please see
our public filings with the Securities and Exchange Commission,
including our latest periodic reports on Form 10-K and 10-Q. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
CONTACT: BioTelemetry, Inc.
Heather C. Getz
Investor Relations
800-908-7103
investorrelations@cardionet.com
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