Remote patient care company Preventice is merging with eCardio Diagnostics, a leading provider of remote cardiac monitoring products and services to “drive innovation and growth in remote monitoring systems and mobile health applications.” The two companies will now operate as wholly-owned subsidiaries of a newly formed holding company, Preventice, Inc.
The strategic combination strengthens eCardio’s remote cardiac monitoring capabilities with the addition of Preventice’s first-in-class, commercially available wireless remote cardiac monitoring system. Moreover, it also provides Preventice with a national sales force and an award-winning monitoring center.
“This strategic combination with Preventice will provide physicians with even greater access to products and services in the emerging market of cardiac remote patient care – one of the fastest growing segments in telehealth,” said Larry Lawson, the new CEO of Preventice, Inc. “In addition to mobile cardiac telemetry monitoring, streamlined reports via customized web portals, and successful EMR integrations, our customers can now look forward to a more robust and cost-effective offering.”
Operating and corporate functions of the new holding company will be managed from eCardio’s corporate headquarters in Houston, while clinical R&D activities will remain at Preventice’s Rochester, Minnesota.Under the deal, operating and corporate functions of the new holding company will be managed from eCardio’s corporate headquarters in Houston, while clinical R&D activities will remain at Preventice’s Rochester, Minn., location. eCardio’s two Independent Diagnostic Testing Facilities will continue to monitor patients from Houston and South San Francisco.
Larry Lawson, founder and CEO of eCardio, will serve as chairman and CEO of the new holding company, Preventice, Inc. Jon Otterstatter, co-founder, president and CEO of Preventice, has been appointed as president and global strategy officer of the holding company. Finally, eCardio’s COO, John Untereker, will serve as executive vice president and COO of the holding company.
GHIF and Mayo Clinic were instrumental in the funding and development of Preventice’s BodyGuardian system. After the deal is closed, GHIF will emerge as the primary stockholder in the new company.