BioTelemetry buys Biomedical Systems unit

BioTelemetry (BEAT) acquires the cardiac patient services business of Biomedical Systems Corp. for $8.65M. The business will be immediately accretive adding $8M - $9M in revenues and $2.5M - $3M in EBITDA.

The business includes Holter and cardiac event monitoring as well as mobile telemetry services.

Consensus estimates for 2014 and 2015 are a loss of $0.09/share on revenues of $148M and earnings of $0.06/share on revenues of $179M, respectively.

88 mutual funds have positions, up from 60 a year earlier.

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