CardioNet, Inc. Holding Company Structure Effective

CONSHOHOCKEN, Pa., Aug. 1, 2013 (GLOBE NEWSWIRE) -- CardioNet, Inc. and BioTelemetry, Inc. (Nasdaq:BEAT) announced today that their holding company reorganization, which was approved by shareholders on July 25, 2013, was effective as of 5:00pm, Wednesday July 31, 2013. As a result, BioTelemetry, the new public company, will begin to trade on the NASDAQ Stock Market under the ticker "BEAT" upon the opening of the market on August 1, 2013.  At the effective time of the reorganization, each outstanding share of CardioNet common stock was automatically converted into one share of BioTelemetry common stock. From a shareholder perspective, the delisting of CardioNet and simultaneous listing of BioTelemetry will be seamless and effectively amount to a name change. 

About BioTelemetry / CardioNet

BioTelemetry, Inc., formerly known as CardioNet, Inc., is the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care. The Company currently provides cardiac monitoring services, original equipment manufacturing with a primary focus on cardiac monitoring devices and centralized cardiac core laboratory services. More information can be found at www.cardionet.com .

Cautionary Statement Regarding Forward-Looking Statements

This document includes certain forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, our expectations regarding the effect of the creation of a new holding company structure and the effect, including on our growth prospects, of the new holding company structure. These statements may be identified by words such as "expect," "anticipate," "estimate," "intend," "plan," "believe," "promises" and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of these expectations, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, effects of changes in health care legislation, effectiveness of our cost savings initiatives, relationships with our government and commercial payors, changes to insurance coverage and reimbursement levels for our products, the success of our sales and marketing initiatives, our ability to attract and retain talented executive management and sales personnel, our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, changes in governmental regulations and legislation, the continued consolidation of payors, acceptance of our new products and services, patent protection, adverse regulatory action, litigation success, our ability to successfully create a new holding company structure and to anticipate the benefits of such structure. For further details and a discussion of these and other risks and uncertainties, please see our public filings with the Securities and Exchange Commission, including our latest periodic reports on Form 10-K and 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
CONTACT: BioTelemetry, Inc.         Heather C. Getz         Investor Relations         800-908-7103         investorrelations@cardionet.com

If you liked this article you might like

The BEAT Goes on at BioTelemetry

Buyers Get Picky About Bargains

Shark Bites: Two Big Movers

Shark Bites: Two Big Movers

Ignore Market Jitters, Let Price Action Be the Guide