BioTelemetry, Inc. Acquires Remote Patient Monitoring Platform from Centene Subsidiary

Rhea-AI Summary

BioTelemetry, Inc. (NASDAQ: BEAT) has acquired the On.Demand™ remote patient monitoring platform from Envolve People Care, a subsidiary of Centene Corporation. This acquisition enhances BioTelemetry's offerings for chronic care management, specifically targeting diabetes, hypertension, and chronic heart failure. The deal establishes BioTelemetry as the exclusive provider of diabetes RPM services to Centene's Medicaid members. The On.Demand platform aims to improve patient engagement and compliance while reducing healthcare costs through real-time monitoring and coaching.

Positive

• Acquisition of On.Demand enhances BioTelemetry's chronic care management capabilities.
• Becomes exclusive provider of diabetes RPM services to Centene Medicaid members.
• The On.Demand solution improves patient engagement and compliance.

Negative

• None.

MALVERN, Pa., July 29, 2020 (GLOBE NEWSWIRE) -- BioTelemetry, Inc. (NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today announced it has acquired the On.Demand™ remote patient monitoring (RPM) and coaching platform, operated by Envolve People Care, Inc., a Centene Corporation subsidiary.  This acquisition adds chronic RPM and coaching solutions to BioTelemetry’s current suite of acute care connected health products and services, focusing specifically on diabetes, hypertension and chronic heart failure. 

As part of this acquisition, and under the companies’ strategic partnership agreement, BioTelemetry becomes the exclusive provider of diabetes RPM services to Centene Medicaid members currently utilizing, implementing or engaged to implement the platform in 2020.  In addition to Centene, BioTelemetry will partner externally with payor, provider and employer organizations to improve health outcomes, reduce costs and eliminate waste using On.Demand’s targeted monitoring and coaching interventions.

“We are excited to add On.Demand to our connected health portfolio,” said Joseph H. Capper, President and CEO of BioTelemetry.  “This acquisition uniquely positions BioTelemetry to deliver population health solutions at a time when remote and telehealth options are increasingly important in improving effectiveness across the healthcare continuum.  We are delighted to partner with an organization like Centene, which has demonstrated a clear commitment to improving the lives of so many people and communities.”

On.Demand is a mHealth solution that combines real-time monitoring of biometric data with cellular- and web-based technology, proactive and reactive health coaching, population health reporting and customizable interventions.  The platform is designed to supplement a physician’s care plan by increasing patient engagement, improving compliance and reducing costs.  It matches people to the clinical expertise and condition management tools they need when they need them, providing intervention and triage that helps bridge the gap between patient visits.  In addition, the platform also includes Alexa Skill.  On.Demand users are able to schedule coaching appointments, access educational resources, set reminders, and receive real-time assessments and immediate referrals for mental and physical health needs.

BioTelemetry is the pioneer in patient care monitoring, providing technology and services that enable healthcare providers to monitor and diagnose patients and clinical research subjects more efficiently, accurately and cost-effectively.  Through its connected health solutions, population health management platform and support of some of the largest clinical trials, BioTelemetry is advancing health and improving lives.  BioTelemetry’s suite of services and devices expand across cardiac outpatient telemetry, diabetes, hypertension and weight management.

About BioTelemetry
BioTelemetry, Inc. is the leading remote medical technology company focused on delivery of health information to improve quality of life and reduce cost of care.  We provide remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing that serves both healthcare and clinical research customers.  More information can be found at www.gobio.com.

Heather C. Getz
Investor Relations
Executive Vice President, Chief Financial Officer
800-908-7103
investorrelations@biotelinc.com

Amy M. Knapp
Media Relations
Vice President, Corporate Communications
813-277-8456
amy.knapp@gobio.com

FAQ

What is the significance of BioTelemetry's acquisition of On.Demand?

The acquisition strengthens BioTelemetry's position in chronic care management by adding diabetes, hypertension, and heart failure monitoring capabilities.

How will the On.Demand platform impact BioTelemetry's business?

It allows BioTelemetry to offer exclusive diabetes RPM services to Centene Medicaid members, enhancing revenue potential and market reach.

When was the acquisition of On.Demand announced by BioTelemetry?

The acquisition was announced on July 29, 2020.

What is On.Demand's primary function within BioTelemetry's offerings?

On.Demand provides remote patient monitoring and coaching solutions to improve patient health outcomes and reduce healthcare costs.

How does the On.Demand platform improve patient care?

The platform employs real-time monitoring and coaching interventions that enhance patient engagement and care compliance.