BioTelemetry (NASDAQ: BEAT) reported Q1 EPS of $0.42, $0.01 better than the analyst estimate of $0.41. Revenue for the quarter came in at $104 million versus the consensus estimate of $104.11 million.

Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented: “The first quarter was another great quarter with record revenue and a strong adjusted EBITDA margin, both of which were in line with our expectations. Demand for our services remained strong with MCT and extended Holter services driving patient volume growth as well as a 9% increase in Healthcare revenue. Additionally, our Research division posted double-digit revenue growth while our digital population health business benefitted from the launch of a significant new managed care partnership.

“During the quarter, we completed the acquisition of Geneva Healthcare, extending our remote cardiac monitoring reach into the $1 billion implantable cardiac monitoring market. We believe this transaction further reinforces our growth strategy and provides significant revenue upside for the company. Our excitement about Geneva continues to grow based on its early performance and the tremendous interest being generated from our top customers. We expect the combination of the benefits from the Geneva platform and our unmatched portfolio of remote cardiac monitoring services to further solidify our leadership position in cardiac monitoring.

“BioTelemetry is in the best position ever to address the needs of our patients and practices. Looking forward, we expect the addition of Geneva and our ongoing investments in our sales and technology areas to make 2019 another record year for the Company. As a result, we are raising our full year 2019 revenue guidance to be in the range of $446 to $450 million.”

GUIDANCE:

BioTelemetry sees FY2019 revenue of $446-450 million, versus the consensus of $442.05 million.

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