Last $10.20 USD
Change Today +0.03 / 0.29%
Volume 115.7K
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biotelemetry inc (BEAT) Snapshot

Open
$10.03
Previous Close
$10.17
Day High
$10.33
Day Low
$10.03
52 Week High
03/5/14 - $11.98
52 Week Low
05/7/14 - $6.42
Market Cap
272.2M
Average Volume 10 Days
230.8K
EPS TTM
$0.10
Shares Outstanding
26.7M
EX-Date
--
P/E TM
98.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for BIOTELEMETRY INC (BEAT)

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biotelemetry inc (BEAT) Details

BioTelemetry, Inc. provides cardiac monitoring, cardiac monitoring device manufacturing, and cardiac core laboratory services. It operates in three segments: Patient Services, Product, and Research Services. The Patient Services segment focuses on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders. This segment offers Mobile Cardiac Outpatient Telemetry service, which incorporates a lightweight patient-worn sensor attached to electrodes that capture two-channel electrocardiography (ECG) data, measuring electrical activity of the heart, on a compact wireless handheld monitor; event monitoring services to prescribe wireless event monitors, digital loop event monitors, memory loop event monitors, and non-loop event monitors; and a Holter monitor to cardiologists and electrophysiologists. The Product segment focuses on the manufacture, engineering, and development of noninvasive cardiac monitors for healthcare companies, clinics, and hospitals worldwide. This segment offers various devices, including cardiac event monitors, digital Holter monitors, and mobile cardiac telemetry monitors; and contract engineering and manufacturing services. The Research Services segment provides cardiac monitoring, scientific consulting, and data management services for drug and medical treatment trials to pharmaceutical companies, medical device companies, and contract research and academic research organizations. Its centralized services include ECG, Holter monitoring, ambulatory blood pressure monitoring, echocardiography, multigated acquisition scan, protocol development, and expert reporting and statistical analysis. This segment also offers research services, such as project coordination, setup and management, equipment rental, data transfer, processing, and analysis, as well as 24/7 customer support and site training. The company is headquartered in Malvern, Pennsylvania.

622 Employees
Last Reported Date: 02/26/14

biotelemetry inc (BEAT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $535.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $319.2K
Chief Operating Officer and Senior Vice Presi...
Total Annual Compensation: $320.0K
Senior Vice President of Technical Operations
Total Annual Compensation: $320.0K
Senior Vice President of Corporate Developmen...
Total Annual Compensation: $280.0K
Compensation as of Fiscal Year 2013.

biotelemetry inc (BEAT) Key Developments

BioTelemetry, Inc. Enters into a Credit Agreement with the General Electric Capital Corporation

On December 30, 2014, BioTelemetry, Inc. entered into a Credit Agreement with The General Electric Capital Corporation, as agent for the lenders, and as a Lender and swingline lender. Pursuant to the agreement, the Lenders agreed to make loans to the company as term Loans in an amount of $25,000,000 as of the closing date with an uncommitted ability to increase such term Loans up to an amount not to exceed $10,000,000 and revolving Loans up to $15,000,000, which remain undrawn. The Loans bear interest at an annual rate, at the election of the company, of with respect to LIBOR rate loans, LIBOR plus 4.0%, subject to a LIBOR floor of 1.0% and with respect to base rate loans, the base rate. The Credit Agreement contains customary affirmative and financial covenants regarding the operations of the company’s business and customary negative covenants that, among other things, limit the ability of the Company to incur additional indebtedness, grant certain liens, make certain investments, merge or consolidate, make certain restricted payments and engage in certain asset dispositions, including a sale of all, or substantially all, of its property. Beginning April 1, 2015, the principal amount of the term Loans will be repaid, on a monthly basis, in installments of $312,500, plus accrued interest; Beginning January 1, 2018, the principal amount of the term Loans will be repaid, on a monthly basis, in installments of $625,000, plus accrued interest; and Beginning October 1, 2019, the remaining $16,562,500 will be paid in full on or before December 30, 2019 (or such earlier date upon an acceleration of the Loans by Lenders upon an event of default or termination by the Company). The Credit Agreement contains events of default that entitle the Lenders to declare a default and accelerate the Company’s obligations under the Credit Agreement and require repayment of the Loans and increase the applicable finance charge or interest rate by an additional 2.0% per annum. These events of default include, among others, any breach of payment obligations or covenants, defaults in payment of other outstanding debt, material misrepresentations, events constituting a material adverse change, the Company fails to remain publicly traded, and bankruptcy and insolvency defaults. Upon the occurrence of a bankruptcy or insolvency default and after giving effect to any applicable grace periods in the Credit Agreement, the Loans immediately become due and payable without demand, notice or legal process of any kind.

Eric Prystowsky to Transition from the Board of Directors into Medical Advisory Role of BioTelemetry, Inc

BioTelemetry, Inc. announced that after 13 years of distinguished service, Eric Prystowsky M.D., will transition from his position as a Director and enter into a multi-year agreement to serve as a Medical Advisor for the Company. Since 1988, Dr. Prystowsky has served as the Director, Clinical Electrophysiology Laboratory at St. Vincent Hospital, Indianapolis, Indiana. Since 1988, Dr. Prystowsky has served as Consulting Professor of Medicine at Duke University. Dr. Prystowsky's knowledge of and experience with cardiac medicine is vast and includes leadership positions within the American Heart Association as well as the Heart Rhythm Society.

BioTelemetry, Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for 2015

BioTelemetry, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $43,113,000 against $31,874,000 a year ago, a 35% increase over the third quarter of 2013 and, for the second quarter in a row, the company’s high quarterly revenue in the company's history. If the company exclude the impact of acquisitions, revenue increased by 9% organically. Loss from operations was $486,000 against $2,835,000 a year ago. Loss before income taxes was $193,000 against $2,932,000 a year ago. Net loss was $29,000 against $2,956,000 a year ago. Basic and diluted loss per share was $0.00 against $0.12 a year ago. Adjusted operating income was $2,101,000 against $460,000 a year ago. Adjusted net income was $1,586,000 against $339,000 a year ago. Adjusted earnings per diluted share were $0.06 against $0.01 a year ago. Adjusted EBITDA was $6,043,000 against $4,423,000 a year ago. Cash provided by operating activities was $703,000 against $2,882,000 a year ago. Capital expenditures were $2,367,000 against $1,438,000 a year ago. Successful third quarter was driven by an increase in patient volume of 110%, to over 135,000 patients, due in part to its acquisitions of Mednet and BMS earlier this year as well as over 20% organic volume growth. For the nine months, the company reported revenue of $122,925,000 against $96,396,000 a year ago. Loss from operations was $3,611,000 against $7,107,000 a year ago. Loss before income taxes was $10,762,000 against $7,318,000 a year ago. Net loss was $8,139,000 against $7,342,000 a year ago. Basic and diluted loss per share was $0.31 against $0.29 a year ago. Adjusted operating income was $2,304,000 against $423,000 a year ago. Adjusted net income was $1,306,000 against $188,000 a year ago. Adjusted earnings per diluted share were $0.05 against $0.01 a year ago. Adjusted EBITDA was $14,209,000 against $11,704,000 a year ago. Cash provided by operating activities was $4,572,000 against $7,044,000 a year ago. Capital expenditures were $9,977,000 against $4,863,000 a year ago. The continued success the company is having selling its comprehensive suite of monitoring services. The positive impact of this strategy, along with the reinstatement of Cigna's coverage of MCOT(TM), is building momentum as it looks forward to 2015. The company will gain additional leverage through the integration of the acquisitions as well as through operational efficiencies that have been identified in the base business. As a result, the company expects its business to continue to strengthen through the remainder of the year and into 2015. Finally, as is look to the future, it will maintain its focus on solidifying its leadership position in cardiac monitoring, establishing a leading research services business and leveraging its existing infrastructure in new markets.

 

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