Tunstall Healthcare Buys AMAC, American Medical Alert Company–Both Are Remote Monitoring Companies
Posted Sep 22 2011 8:58pm
Tunstall is also a member of the Continua Wireless Alliance and they are located in the UK with several locations around the world. AMAC is a publicly traded compnay in the US sold on the NASDAQ exchange. It looks like remote healthcare companies are going through consolidation like many others in healthcare. AMAC has several wireless monitoring products they market to include the Intel Health Guide which I have written about here a couple of times. BD
“Established in the UK in 1957, Tunstall Healthcare Group is the world's leading provider of telehealthcare solutions. Operating in more than 30 countries and employing over 1000 people, Tunstall supports 2.5m people around the world.”
“American Medical Alert Corp. (NASDAQ:AMAC) is a leading provider of remote health monitoring devices and 24/7 communication services to facilitate stronger, more positive relationships between patients, providers and payers. With our innovative dashboard of connectivity solutions, AMAC adds a new dimension to the healthcare landscape to enhance care, accelerate response time, improve operational effectiveness and help create a sustainable competitive advantage for your organization.”
LONG ISLAND CITY, N.Y.--( BUSINESS WIRE )--American Medical Alert Corp (Nasdaq: AMAC), a leading provider of remote health monitoring and 24/7 communication services that enhances care, accelerates response times, improves operational effectiveness and delivers sustainable patient services, has announced today that it has entered into a definitive agreement to be acquired by Tunstall Healthcare Group Limited, a leading telehealth and telecare provider. Tunstall will acquire all of the outstanding common shares of AMAC for $8.55 per share in cash without interest, representing a premium of approximately 50% over AMAC’s closing share price on September 22, 2011, plus one Contingent Payment Right (CPR) per share providing a contingent cash payment for the holder of such common share in the event of a sale of AMAC’s interests in the Lifecomm joint venture or prior sale of Tunstall under certain conditions. The transaction is expected to close at the end of the fourth quarter of 2011.
Based in New York, AMAC has two business divisions. The first is Health and Safety Monitoring Systems (HSMS) which includes a rich portfolio of remote patient monitoring devices and services including personal emergency response systems (PERS), mobile PERS, medication management and telehealth. The second division is Telephony Based Communication Services (TBCS), AMAC’s contact center services group, which provides concierge level communication services to all types of healthcare entities, including physician groups, hospitals, homecare and the pharmaceutical industry.