Item 2.01 Completion of Acquisition or Disposition of Assets.
On October 2, 2018, BioTelemetry, Inc. (the "Company"), through its subsidiary Telcare Medical Supply, LLC ("Telcare"), acquired certain assets and liabilities of ActiveCare, Inc. ("ActiveCare") for (i) $3,750,000 in cash and (ii) the forgiveness of debt and accounts payable to Telcare. The purchase price also includes a potential earn-out payment of $2,000,000, which is contingent on the achievement of certain revenue targets. The acquired assets primarily consisted of customer contracts and software developed by ActiveCare.
The Company received permission from the Securities and Exchange Commission to omit separate audited financial statements of ActiveCare under Rule 3-05 of Regulation S-X and pro forma financial information relating to the acquisition of ActiveCare under Article 11 of Regulation S-X.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 5, 2018
/s/ Heather C. Getz
Heather C. Getz
Executive Vice President and Chief Financial Officer