CardioNet Acquires ECG Scanning and Medical Services Inc.


February 15, 2012

February 15, 2012 — Wireless medical technology company CardioNet Inc. announced the acquisition of ECG Scanning and Medical Services Inc.  CardioNet acquired all of the outstanding shares of ECG Scanning for aggregate consideration of $5.8 million in cash at closing and up to an additional $600,000 in cash upon the achievement of performance targets.

We are excited to join forces with ECG Scanning,” said Joseph Capper, president and CEO of CardioNet. “ECG Scanning is a respected cardiac monitoring provider that affords CardioNet access to established relationships with healthcare providers and payers in the Midwest.”

CardioNet is a provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as mobile cardiac outpatient telemetry (MCOT).

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