Dutch giant Philips has completed the acquisition of Pennsylvania-based BioTelemetry, a provider of remote cardiac diagnostics and monitoring products.

The acquisition fits well with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated products. Philips’ patient care management offerings for hospitals include real-time patient monitoring, therapeutic devices, telehealth and informatics. Moreover, Philips has the secure cloud-based HealthSuite digital platform for the delivery of health care across care settings.

With 2020 sales of $450m, BioTelemetry adds a complete range of clinically validated ambulatory cardiac diagnostics and monitoring services, including short-term Holter monitoring, long-term Holter monitoring, event recorder and mobile cardiac outpatient telemetry (MCOT) services.

BioTelemetry has built one of the world’s largest remote cardiac monitoring services networks, providing services for over a million patients per year. Additionally, it has a clinical research business that provides testing services for clinical trials.

“The combination of Philips’ leading patient care management portfolio in the hospital with BioTelemetry’s leading cardiac diagnostics and monitoring portfolio outside the hospital will result in a global leader in patient care management for the hospital and the home for cardiac and other patients,” said Frans van Houten, CEO of Royal Philips. “With our collective portfolios, and our healthcare informatics and services platforms, we will be in an optimal position to improve patient care across care settings for multiple diseases and medical conditions.”

BioTelemetry and its approximately 1900 employees will become part of Philips’ connected care business segment. The acquisition is projected to be nominal sales growth and adjusted EBITA margin accretive for Philips in 2021. Philips targets synergies driven by cross-selling opportunities, geographical expansion and portfolio innovation. The BioTelemetry business is expected to grow double-digits and to improve its adjusted EBITA margin to more than 20% by 2025.