MALVERN, Pa., June 5, 2014 (GLOBE NEWSWIRE) -- 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.
BioTelemetry, Inc. Heather C. Getz Investor Relations 800-908-7103
