BioTelemetry (BEAT 57.93, +0.57, +0.99%) is a name that is worth a look in 2019.
Formerly known as CardioNet, BioTelemetry primarily provides cardiac monitoring
services, through its Mobile Cardiac Telemetry (MCT) service. It helps people
with heart conditions better monitor any adverse events.
Its MCT service uses a lightweight patient-worn sensor attached to electrodes that capture ECG data on a compact wireless handheld monitor. When the monitor detects an arrhythmic event, it automatically transmits the ECG to BEAT's Monitoring Centers, even in the absence of symptoms noticed by the patient. At the Monitoring Centers, which operate 24/7, certified cardiac monitoring specialists analyze the sent data, respond to urgent events and report results to physicians.
A nice feature with the MCT device is that it has the capability of storing 30 days of continuous ECG data, in contrast to a maximum of 10 minutes for a typical event monitor, and a maximum of 24 hours for a typical Holter monitor. In addition to MCT, BEAT also offers Holter monitoring, Pacemaker and INR monitoring.
On the product development front, BEAT is pretty excited about its next-generation MCT device, which uses a patch form factor. The MCT patch, which has been approved by the FDA, made its full commercial launch in 1Q18. It uses an ultralight and flexible hydrocolloid patch, ensuring a high level of comfort and convenience. BEAT's extended wear Holter devices also are now offered in a patch form factor.
BEAT says its next-generation MCT and extended Holter products in multiple form factors have been extremely well received in the market and are successfully broadening BEAT's existing customer relationships. In addition to the continued volume strength, a favorable payor, and product mix also had a positive impact on revenue in Q3.
Also, in mid-June, its BioTel Care unit announced the release of its next-generation wireless blood glucose monitor for diabetes management. BioTel Care developed the first FDA-cleared, cellular-enabled glucometer which supports real-time transmission and consolidation of patient data in an FDA-cleared cloud. Building on the success of this technology, BioTel Care recently launched its next-generation blood glucose monitor, which includes an innovative touch-screen user interface, enabling patients to easily test blood glucose levels while capturing additional personal health data.
The monitor's remote capabilities allow patients to quickly communicate a wide range of relevant health information to their care providers. Clinicians can access and track their patients' data through the BioTel Care cloud and can provide immediate feedback, as needed, directly to their patients via the new monitor's messaging feature. Patients can also track their own data with informative graphical summaries available on the monitor.
BEAT has transformed itself from a small, heart monitoring company to a big player in this space through acquisitions and through successful product launches/updates as discussed above. On the M&A front, in July 2017, BEAT greatly increased its scale when it acquired Switzerland-based LifeWatch, which also supplies mobile cardiac monitoring services. It has been quite a ride for BEAT. This stock was trading below $10 as recently as early 2016 and now it's near $58. However, the recent pullback makes this a name to watch in 2019.
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