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February 3, 2014
08:15 EDTBEATBioTelemetry acquires all outstanding shares of Mednet for $16M
BioTelemetry announced a significant victory in the patent infringement case against Mednet Healthcare Technologies and its subsidiaries, Heart-Care Corporation of America, Universal Medical, and Universal Medical Laboratory, as well as other named defendants. Mednet entered into a consent judgment, declaring that the Mednet entities infringed on five patents owned by BioTelemetry and its subsidiary, Braemar Manufacturing, and that all five patents are valid. The lawsuit, which was filed in the U.S. District Court for the Eastern District of Pennsylvania in May 2012, centered on patented technology used in BioTelemetry's Mobile Cardiac Outpatient Telemetry. Following the entry of the consent judgment, BioTelemetry acquired all outstanding shares of Mednet for an aggregate purchase price of approximately $16M, consisting of $5.5M of cash, $0.8M of BioTelemetry common stock and the assumption of $9.7M of debt. Mednet's core competencies include outpatient cardiac monitoring and contract manufacturing of cardiac monitoring devices. Expects the acquisition to be accretive, adding $4M-$5M of EBITDA post-integration.
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October 9, 2015
17:04 EDTBEATBioTelemetry COO Michael Geldart to resign
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October 6, 2015
08:05 EDTBEATBioTelemetry announces judge finds MedTel24 in contempt
Biotelemetry announced that the Honorable Juan R. Sanchez of the Eastern District of Pennsylvania has issued an October 2 Order finding MedTel24 in contempt of a Consent Judgment previously issued by the Court. The previously issued Consent Judgment declared all five asserted BioTelemetry patents valid, enforceable and infringed by MedTel. The Consent Judgment also declared that MedTel is permanently enjoined from further infringement and is required to deliver to BioTelemetry all software, source code, hardware, and documentation relating to the Heartrak ECAT system. In the recent Order, Judge Sanchez specifically found that BioTelemetry, "has established by clear and convincing evidence that MedTel is in contempt of the Consent Judgment." MedTel was ordered to return, within 21 days of the Order, all of the Heartrak ECAT materials it improperly retained in violation of the Consent Judgment. Judge Sanchez has further ordered that MedTel's CEO is required to submit a declaration to the Court that all of the materials have been returned within the 21-day window. To ensure MedTel's compliance, the Order also provided for a substantial fine of $20,000 per day for each day beyond the 21 days that MedTel fails to deliver the materials as directed. The Court will issue a separate Order addressing MedTel's other potential violations of the Consent Judgment and BioTelemetry's requests for lost profits, expenses, attorneys' fees and sanctions.

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