NEW YORK, December 6, 2016 – Global law firm Reed Smith LLP advised BioTelemetry, Inc. (NASDAQ: BEAT), a leading wireless mobile technology company, in its acquisition of Telcare Medical Supply, Inc. and associated assets for upfront consideration of $7 million in cash with the potential for additional performance-based earn-outs of up to $5 million in cash.
The acquisition will allow BioTelemetry to expand into the growing digital population health management market. Telcare was the first company to receive FDA approval of a cellular-enabled Blood Glucose Monitoring (BGM) system.
New York partner Jennifer Cheng led the deal team, which included New York associates Anatoliy Rozental and Lowell Bourgeois; Washington, DC, partner Elizabeth Carder-Thompson and associate Jeremy Alexander; New York partner James Tandler and associate Matthew Maggiacomo; and Philadelphia partner John Martini and associate Lauren Sawyer.
Read BioTelemetry’s release.