CardioNet (BEAT) to Acquire cardioCORE Lab in $23.5M Deal
Get Alerts BEAT Hot Sheet
Join SI Premium – FREE
CardioNet, Inc. (Nasdaq: BEAT), announced that it has entered into a definitive merger agreement with cardioCORE Lab, Inc., a leading centralized cardiac testing laboratory with locations near Washington, D.C., San Francisco, CA and London, UK.
The total consideration to be paid by CardioNet will be $23.5 million. At its option, CardioNet may pay up to $3.5 million of the total consideration in the form of common stock. The transaction, subject to customary closing conditions, is expected to close in the third quarter of 2012.
cardioCORE is expected to generate $19.0 to $20.0 million in revenue and $3.5 to $4.0 million in EBITDA for the full year 2012. CardioNet will provide additional information regarding the expected financial impact of the transaction on its second half results during its earnings conference call scheduled for August 8, 2012.
The total consideration to be paid by CardioNet will be $23.5 million. At its option, CardioNet may pay up to $3.5 million of the total consideration in the form of common stock. The transaction, subject to customary closing conditions, is expected to close in the third quarter of 2012.
cardioCORE is expected to generate $19.0 to $20.0 million in revenue and $3.5 to $4.0 million in EBITDA for the full year 2012. CardioNet will provide additional information regarding the expected financial impact of the transaction on its second half results during its earnings conference call scheduled for August 8, 2012.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Dril-Quip (DRQ) and Innovex to Combine
- Adverum Biotechnologies (ADVM) Tops Q4 EPS by 11c
- Omega Healthcare Investors (OHI) PT Raised to $32 at Citi
Create E-mail Alert Related Categories
Mergers and AcquisitionsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!