March 28, 2018
Free for publication on March 28, 2018 at 4.45pm (CEST +1)
Bittium expands its medical remote diagnostics offering by acquiring RemoteA’s medical remote diagnostics service platform
With the business transaction Bittium’s offering expands from measuring and monitoring the electrical activity of the heart and brain to measuring and monitoring sleep apnea
Oulu, Finland, March 28, 2018 – Bittium Medanalytics Oy, a subsidiary of Bittium Corporation, and RemoteA Oy have today signed a business purchase agreement according to which Bittium Medanalytics Oy purchases RemoteA’s medical remote diagnostic service platform and the product rights of the related medical measurement devices and their interfaces. With the business transaction Bittium’s offering expands from measuring and monitoring the electrical activity of the heart and brain to measuring and monitoring sleep apnea. In addition, a third party blood pressure measurement device has been connected to the service platform, and in the future, it is possible to connect also other measurement devices to the system. Biosignal information collected from the patients via the remote diagnostics service platform enables the transfer of information over the internet and it serves as a platform for patient measurement data and specialists’ diagnosis.
”After completing the business transaction, Bittium is able to deliver its customers offering remote diagnostics services a complete solution for long-term recordings of ECG, blood pressure and sleep apnea, as well as measurement and information transfer services over the internet. Bittium’s complete solution includes biosignal measurement and analysis software, and enables patient’s measurement information and medical diagnosis information over the internet and thus facilitates and speeds up patient care. This business transaction expands our offering in the Medical Technologies product and service area and supports Bittium’s strategic goal to grow as a solution provider for biosignal measurements”, says Hannu Huttunen, CEO of Bittium Corporation.
RemoteA and Bittium have earlier both been providing Coronaria Analyysipalvelut Oy, a joint venture of Bittium and Coronaria, with measurement and remote diagnosis information transfer services which, after this business transaction, will be transferred to Bittium’s sole responsibility. Bittium will provide similar service and the measuring equipment needed in the future also to RemoteA’s subsidiary in Sweden.
The business transaction has no significant impact on Bittium Corporation’s financial outlook for 2018. The parties have agreed that the value of the transaction will not be published.
Senior Vice President, Medical Technologies
Tel. +358 40 344 3507
Bittium specializes in the development of reliable, secure communications and connectivity solutions, leveraging its 30 year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Bittium also offers healthcare technology products and services for the measurement of and monitoring of biosignals in the areas of cardiology, neurology, rehabilitation, occupational health and sports medicine. Net sales in 2017 were EUR 51.6 million and operating loss was EUR -6.2 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com