Philips Buys BioTelemetry for $2.8 Billion in At-Home Care Push
In this article
Royal Philips NV agreed to buy U.S.-basedBioTelemetry Inc. for $2.8 billion to expand in wearable heart monitors as the Dutch company expands in the burgeoning at-home care market.
Shareholders of Conshohocken, Pennsylvania-based BioTelemetry will receive $72 a share in cash, Philips said in astatement Friday, a 17% premium over Thursday’s closing price.
With the global coronavirus pandemic still raging, demand for Philips’s equipment that allows doctors and nurses to provide real-time care over the cloud is surging. The Amsterdam-based company expects the BioTelemetry purchase to add to sales growth and expand its profit margin in 2021.
The bulk of BioTelemetry’s sales come from equipment to diagnose and monitor heart disorders, with AI-based data analytics used to pick up abnormalities. It’s a market worth more than $3 billion and growing, Philips said in its statement.
All Out Politics: Political review of 2020
Adam Boulton and guests review a significant political year choosing their people and moments of the past 12 months.
Coronavirus has dominated the political landscape and as well as the domestic developments, there have been some seismic moments in the US too.
Joining Adam in the final episode of 2020 are the journalist and author Rob Hutton, the comment editor of City AM Rachel Cunliffe and Sky News’ chief political correspondent Jon Craig.
:: Subscribe to the All Out Politics podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker
Trader Joe’s Lightly Salted Edamame Recalled For Listeria Concerns
Tesoros Trading Co. is recalling certain codes of frozen “Trader Joe’s Lightly Salted Edamame” citing the potential to be contaminated with Listeria monocytogenes, according to the U.S. Food and Drug Administration.
The recall involves products that comes in a 16 ounce plastic package and is stamped on the back bottom portion of the package with lots 22LA102 M/ 22LA102 N/ 22LA102 P.
The recalled “Trader Joe’s Lightly Salted Edamame” were sold at Trader Joe’s retail stores only in the Arizona, Southern California, Southern Nevada, and Utah regions.
The Las Vegas, Nevada-based company said all affected product has been removed from sale and destroyed. The company and the FDA continue to investigate the source of the problem.
Listeria monocytogenes is an organism that can cause serious and sometimes fatal infections in young children, frail or elderly people. It can also cause miscarriages and stillbirths among pregnant women. The symptoms include high fever, severe headache, stiffness, nausea, abdominal pain, and diarrhea.
Consumers who have purchased 16 ounce packages of the recalled product are urged to return them to the place of purchase for a full refund.
In similar incidents citing the possible presence of Listeria, West Des Moines, Iowa-based Hy-Vee Inc. in November called back two of its Hy-Vee Short Cuts vegetable mix products, and Country Fresh in October recalled various cut and sliced fruits distributed mainly by Walmart.
Tencent-Led Consortium Boosts Equity Ownership In UMG To 20% – Quick Facts
Tencent Holdings Limited (TCTZF.PK) announced that a Tencent-led consortium has exercised its call option to acquire an additional 10% equity stake in Universal Music Group from its parent company, Vivendi SE (VIV.L,VIVEF.PK). Upon the closing of this transaction, the Consortium’s equity ownership in UMG will increase to 20%.
Tencent noted that this transaction is based on the same enterprise value of EUR 30 billion for 100% of UMG’s share capital as in the initial acquisition that closed in March 2020.
The Consortium comprises the same members as that for the initial 10% investment in UMG, including Tencent Music Entertainment Group (TME) and other financial co-investors.
Virgin Galactic Drops as Holders File to Sell 113 Million Shares
Virgin Galactic Holdings Inc. fell 4% in premarket trading Friday after shareholders filed to offer as much as 113 million of stock for sale.
The registration includes up to about 105 million outstanding shares of common stock and up to 8 million shares issuable upon the exercise of warrants that were issued in connection with a private placement, according to a filing with the Securities and Exchange Commission. It doesn’t necessarily indicate that a sale has begun, or will occur in the future.
Shares of the Las Cruces, New Mexico-based aerospace company have surged 46% since the end of October and speculators have been betting that the stock will fall. Short interest, a measure of bearish bets on the company, has risen to almost 32% of the shares available for trading, according to data from IHS Markit Ltd.
Last week, Virgin Galactic sank 17% after efforts to take tourists into space suffered asetback when a test flight was scrubbed shortly after takeoff because of a technical snag.
— With assistance by Sam Unsted
Scathing Supercut Shows How Republicans Keep Moving The Goalposts On Trump’s Defeat
Republicans’ unwillingness to acknowledge President-elect Joe Biden’s election victory is exposed in a new “Daily Show” montage released this week.
The supercut shows how President Donald Trump’s high profile supporters — including White House press secretary Kayleigh McEnany, Trump’s daughter-in-law Lara Trump, Fox News personalities and the president himself — keep moving the goalposts whenever defeat nears.
Check out the video here: