BioTelemetry, a technology company focused on health information delivery, has acquired Telcare, a digital diabetes management platform.
Telcare developed the first FDA-cleared cellular enabled blood glucometer and cloud-based diabetes data repository system. This system transmits patient data into a cloud-based analytical engine, which monitors trends for caregivers to review.
"We chose the diabetes market as our first major digital population health initiative because of its significant overall burden on the healthcare system, with estimated direct annual costs in the U.S. of over $245 billion," said Joseph H. Capper, president and CEO of BioTelemetry.
BioTelemetry acquired Telcare for upfront consideration of $7 million in cash. There is the potential for performance-based earn-outs of up to $5 million in cash.