Company seeks to expand capabilities into additional markets
MALVERN, Pa., Aug. 23, 2016 (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, is pleased to announce that it has entered into a strategic partnership with Bloom Technologies, Inc. (“Bloomlife”), an early stage digital health company. Under the terms of the agreement, Bloomlife will pay BioTelemetry a percentage of revenue to license their proprietary telemetry technology to commercialize a consumer oriented prenatal health sensor. This sensor will collect and deliver a wide variety of prenatal data to expectant mothers that can be shared with their healthcare providers.
Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented: “We are extremely excited to partner with Bloomlife to expand the use of our proprietary technology to the consumer-directed healthcare market. This partnership advances our ongoing strategic commitment to identify new markets that would benefit from the use of our technology. Bloomlife’s novel use of BioTelemetry’s platform will provide the necessary health information to positively impact pregnancy outcomes with its future developments. We are proud to partner with Bloomlife to improve the lives of expectant mothers and their families.”
Eric Dy, Chief Executive Officer of Bloom Technologies, Inc., added: “We strive to take the guesswork out of pregnancy, easing minds and providing actionable data to expectant mothers. We believe the combination of our expertise and BioTelemetry’s technology will help advance research aimed at the prevention of pregnancy complications. We look forward to a long and successful partnership with BioTelemetry.”
BioTelemetry, Inc., formerly known as CardioNet, Inc., is the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care. The company currently provides cardiac monitoring services, original equipment manufacturing with a primary focus on cardiac monitoring devices and centralized cardiac core laboratory services. More information can be found at www.gobio.com.
Bloomlife is a digital health company focused on improving the health of moms and babies. Bloomlife is developing technologies to measure physiological signals known to impact pregnancy outcomes and to translate this information into meaningful actionable information for women and their care teams. Bloomlife aims to collect the largest dataset on maternal and fetal health ever assembled and use this data to resolve pregnancy complications such as gestational diabetes, preeclampsia, and preterm birth. Find out more at www.bloomlife.com.
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. 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, our ability to defend our patent portfolio and obtain favorable results, 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.
Contact: BioTelemetry, Inc.
Heather C. Getz