Hillrom Acquires Bardy Diagnostics to Expand into Ambulatory Cardiac Monitoring Segment

Hillrom (Chicago, IL, USA) has reached a definitive agreement to acquire Bardy Diagnostics, Inc. (BardyDx; Seattle, WA, USA) for a cash consideration of USD 375 million.

The acquisition of BardyDx, an innovator in digital health and a leading provider of ambulatory cardiac monitoring technologies, complements Hillrom's current cardiology portfolio of cardiac stress exercise, Holter and resting electrocardiography (ECG) devices. BardyDx provides a differentiated, wearable bio-sensing technology, the Carnation Ambulatory Monitor (or CAM patch), that is engineered for patient-comfort, superior P-wave clarity, exceptional diagnostic yield and superior clinical accuracy.

The CAM patch is designed to promote patient compliance, streamline clinical workflow, and yield clinically actionable data in a unique and proprietary CAM report that enables physicians to identify specific arrhythmias to aid clinical decision-making. The device employs a novel circuit design and uses advanced compression algorithms to process the signal, ensuring P-wave recording and accuracy, a significant attribute for cardiologists and electrophysiologists.

Hillrom's existing global brand, channel and presence in acute and primary care settings, and capabilities around market access, payor contracting, data security and EMR integration, are expected to drive accelerated adoption of the CAM patch and BardyDx's related suite of ECG analysis services and tools.

"This acquisition provides Hillrom with a highly strategic and differentiated diagnostic cardiology platform aligned with our vision of Advancing Connected Care, as well as an attractive recurring, high-growth revenue stream and gross margin profile," said Hillrom President and CEO John Groetelaars. "BardyDx brings a talented team with significant commercial, clinical and scientific expertise, and dedicated independent diagnostic testing facilities. We look forward to welcoming the 230 employees who will join us in our mission of enhancing outcomes for patients and their caregivers."

"We set out to elevate ECG monitoring through an entirely new approach to signal processing, ECG reader training and report analysis tools and format, which allow for precise diagnoses of both common and abstruse arrhythmias," said Gust H. Bardy, M.D., electrophysiologist, founder and chief medical officer of Bardy Diagnostics. "Our team coupled advanced diagnostics with comfort and ease-of-use for the patient, and simple implementation for clinicians. By joining Hillrom, we will broaden our footprint globally with the goal of providing greater patient value and more confident physician diagnoses."

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