Connecting the Dots on Recent ECG Monitoring M&A Spree
Most recently, Boston Scientific said it would acquire Minneapolis, MN-based Preventice Solutions, a private company it already held about a 22% stake in, for $925 million plus the potential of an additional $300 million commercial milestone payment. The announcement came on the heels of Hillrom announcing its planned acquisition of Seattle, WA-based Bardy Diagnostics (BardyDx) for $375 million. These two deals, both announced last week, followed Royal Philips' mid-December news of a $2.8 billion to acquire Malvern, PA-based BioTelemetry.
The Boston Scientific-Preventice deal is expected to provide Boston Scientific with a foothold in the high-growth ambulatory electrocardiography space, which complements the company's recent entrance into the implantable cardiac monitor market. The Preventice portfolio includes the BodyGuardian family of remote, wearable cardiac monitors for adult and pediatric patients. The monitors use a fully integrated, cloud-based platform supported by an independent diagnostic testing facility, where clinical technicians and artificial intelligence (AI) algorithms provide insights that may lead to improved clinical diagnoses and outcomes. Preventice's integration of AI and human expertise is designed to enhance physician efficiency and experience.
Philips and BioTelemetry make a strong pair also, as BioTelemetry fits nicely with Philips' cardiac care portfolio. BioTelemetry’s offering includes wearable heart monitors that detect and transmit abnormal heart rhythms wirelessly; and AI-based data analytics and services. With more than 30,000 unique referring physicians per month, BioTelemetry provides services for over one million patients per year, the company noted. BioTelemetry also has a clinical research business that provides testing services for clinical trials.