BioTelemetry buys TelCare for $7M to branch out into diabetes
BioTelemetry, formerly known as CardioNet, has acquired TelCare, a diabetes management technology company with the distinction of having had the first FDA-cleared, cellular-connected glucometer. BioTelemetry paid $7 million in cash with the potential for additional performance-based earn-outs of up to $5 million, also in cash. Both BioTelemetry and TelCare are veterans of the early days of the mobile health space.