BioTelemetry, Inc. Announces Major Advancements in Research Services
June 05 2014 - 12:19PM
BioTelemetry, Inc. (Nasdaq:BEAT), the leading wireless medical
technology company focused on the delivery of health information to
improve quality of life and reduce cost of care, announced today
that Cardiocore, its research services subsidiary, acquired the
assets of RadCore Lab, LLC ("RadCore"), an imaging core lab serving
the biopharmaceutical and medical device research market. This
acquisition broadens the Company's cardiac imaging offerings and
adds new oncology, musculoskeletal and neurological imaging
capabilities, supported by a state-of-the-art, cloud-based analysis
platform. While this acquisition provides growth potential, it is
not expected to have a material impact on the Company's 2014
results of operation.
Joseph H. Capper, BioTelemetry's President and Chief Executive
Officer, commented, "2014 is a pivotal year for Cardiocore. As
mentioned in the past, adding adjacent service lines to our
Research Services business and building a stronger presence in
Europe are critical steps in assuring the long-term success of this
important division. As such, the acquisition of RadCore is a
key milestone in this endeavor. As clinical trial sponsors
continue to streamline their outsourcing processes, an integrated
cardiac and imaging testing platform will deliver much greater
value in terms of speed and efficiency. We are also making
excellent progress with our European initiative and will soon be
opening a new location in Brussels to provide better logistical and
site-level support.
"The completion of these strategic imperatives, coupled with the
recent awarding of the two largest studies in our history, has laid
the groundwork for a record 2015 for Research Services. I
congratulate the Cardiocore team, and I am confident they will
continue to build on this momentum."
Scott L. Satin, Cardiocore's President and General Manager
added, "We are excited about these advancements and attribute this
recent momentum to our full integration within BioTelemetry. As
part of the world's largest cardiac data infrastructure, we are
able to deliver unparalleled levels of quality, efficiency, speed
and specialization to pharmaceutical developers and clinical
research organizations."
About Cardiocore
Cardiocore, LLC, a subsidiary of BioTelemetry, Inc., offers a
full range of centralized clinical trial testing modalities for
both safety and endpoint evaluation, including Electrocardiography
(ECG), Holter Monitoring, Trans-telephonic Monitoring (TTM), Mobile
Cardiac Telemetry (MCOT), Echocardiography (ECHO), Multi-gated
Acquisition Scanning (MUGA), Angiography, and Blood Pressure
Monitoring (ABPM/BP). More information about Cardiocore's
services can be found at www.cardiocore.com. Investor information
on BioTelemetry can be found at www.biotelinc.com.
About RadCore Lab
RadCore Lab, LLC is an imaging core lab serving the
biopharmaceutical and medical device industries. RadCore
provides a full range of imaging services in a clinical research
setting including, X-Ray Radiography (X-RAY), Dual Energy X-Ray
Absorptiometry (DEXA), Breast Imaging (Mammo, U/S, MRI),
Computerized Tomography (CT), Magnetic Resonance Imaging (MRI),
Diagnostic Ultrasound (U/S), Vascular Ultrasound (U/S), and general
Nuclear Medicine imaging such as Single-photon emission computed
tomography (SPECT) and Positron Emission Tomography (PET).
BioTelemetry's 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 success of the RadCore
transaction together with related research services advancements
and related effect on the Company's operations. 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@biotelinc.com
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