Bardy Diagnostics, Preventice, and Biotelemetry Acquired – Who’s next?

In June 2020 Patent Forecast highlighted an up and coming company, Bardy Diagnostics. At the time, the company had 7 patent assets in the AI Biotech Patent Forecast® regarding its CAM patch, a wearable ECG monitor with improved long-term wearability, comfort and accuracy. Since then, Bardy Diagnostic’s patent portfolio has grown rapidly in the sector to 40 patent assets.

In the previous insight it was also predicted that Boston Scientific would likely look to acquire Bardy Diagnostics, and if not, another company would swoop in to seize the opportunity. This came true in January 2021 when Boston Scientific acquired Bardy Diagnostic’s competitor, Preventice, for $925M and Hillrom announced its plan to acquire Bardy Diagnostics the same month. The acquisition of Bardy Diagnostics is a perfect complement to Hillrom’s current cardiac portfolio consisting of the Holter monitoring system, exercise stress testing, and resting electrocardiography devices. Additionally, another one of Bardy Diagnostic’s competitors, Biotelemetry, was acquired by Philips around this same time. 

These acquisitions show not only that patent data leads market data but a larger trend in an increased interest in remote cardiac monitoring. Therefore, other emerging leaders in the area such as Heartflow, Alivecor, and Vektor Medical will be worth keeping an eye on in the near future. The most notable of these companies is Vektor Medical, which has 25 patent assets in the sector starting in 2019 focusing mainly on its Vektor’s vMapTM technology, which uses computational modeling to analyze patients ECG data.   

To keep an eye on this trend and other companies that are emerging as sector leaders check out the AI Biotech Patent Forecast®!

*Update: Following Medicare Administrative Contractor, Novitas Solutions, updating reimbursement rates on April 10th, 2021 Hillrom confirmed its position that a “Company Material Adverse Effect” has occurred under acquisition agreement with Bardy Diagnostics and tried to pull out of the deal – Trial regarding the matter was scheduled to begin May 5th, 2021*