CardioNet buys cardiac monitoring provider for $5.8 million
Mobile cardiac outpatient telemetry services provider CardioNet announced last week the acquisition of ECG Scanning & Medical Services, a cardiac monitoring provider, for $5.8 million in cash. The deal price could include an additional $600,000 cash earn out if certain performance milestones are met.
“We are excited to join forces with ECG Scanning. ECG Scanning is a respected cardiac monitoring provider that affords CardioNet access to established relationships with healthcare providers and payors in the mid-west,” stated Joseph Capper, President and Chief Executive Officer of CardioNet. ”This acquisition demonstrates our commitment to augment the growth of our core business through strategic transactions. The combined strength of the two companies further cements CardioNet’s position as the leading provider of wireless cardiac monitoring services.”
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