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Philips scoops up BioTelemetry for $2.8B in big bet on remote care

Dec. 18, 2020 5:06 AM ETKoninklijke Philips N.V. (PHG)PHGBy: Yoel Minkoff, SA News Editor6 Comments
  • Philips (NYSE:PHG) has agreed to buy U.S. cardiac diagnostics and monitoring firm BioTelemetry (NASDAQ:BEAT) for $2.8B, sending shares of the latter up 15% in premarket trade. Philips will pay $72 per outstanding BioTelemetry share in cash, marking a 16.5% premium to

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Comments (6)

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Hard to know if this is the best offer. Does anyone think someone will come in and make a higher bid? Why?
ceristeare profile picture

Corps that actually make money are often subject to more realistic valuations.

PHG swooped in at a growth stall point for BEAT and the stock price reflected it. At the buyout price, BEAT has a P/S ratio similar to that of MDT so I believe the offer reflects realistic future growth potential.

This move occurs at a time when PHG is making a transition (selling it's appliance division) and if another corp pays more for BEAT I'd be surprised.
@ceristeare Thank you. Makes sense.
They should pay more!
About freaking time!
Good news about Philips. It is time for it.
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