Malvern, Pa., Oct. 06, 2015 (GLOBE NEWSWIRE) -- BioTelemetry, Inc. (NASDAQ:BEAT), the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, is pleased to announce that the Honorable Juan R. Sanchez of the Eastern District of Pennsylvania has issued an October 2, 2015 Order finding MedTel24, Inc. (“MedTel”) in contempt of a Consent Judgment previously issued by the Court. The previously issued Consent Judgment declared all five asserted BioTelemetry patents valid, enforceable and infringed by MedTel. The Consent Judgment also declared that MedTel is permanently enjoined from further infringement and is required to deliver to BioTelemetry all software, source code, hardware, and documentation relating to the Heartrak ECAT system.
In the recent Order, Judge Sanchez specifically found that BioTelemetry, “has established by clear and convincing evidence that MedTel is in contempt of the Consent Judgment.” MedTel was ordered to return, within 21 days of the Order, all of the Heartrak ECAT materials it improperly retained in violation of the Consent Judgment. Judge Sanchez has further ordered that MedTel’s CEO is required to submit a declaration to the Court that all of the materials have been returned within the 21-day window. To ensure MedTel’s compliance, the Order also provided for a substantial fine of $20,000 per day for each day beyond the 21 days that MedTel fails to deliver the materials as directed.
The Court will issue a separate Order addressing MedTel’s other potential violations of the Consent Judgment and BioTelemetry’s requests for lost profits, expenses, attorneys’ fees and sanctions.
BioTelemetry is represented by a litigation team from Ropes & Gray LLP’s Manhattan office.
BioTelemetry, Inc., formerly known as CardioNet, Inc., is the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care. The Company currently provides cardiac monitoring services, original equipment manufacturing with a primary focus on cardiac monitoring devices and centralized cardiac core laboratory services. More information can be found at www.gobio.com.
Cautionary Statement Regarding Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “expect,” “anticipate,” “estimate,” “intend,” “plan,” “believe,” “promises” and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of these expectations, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, our ability to defend our patent portfolio and obtain favorable results, effects of changes in health care legislation, effectiveness of our cost savings initiatives, relationships with our government and commercial payors, changes to insurance coverage and reimbursement levels for our products, the success of our sales and marketing initiatives, our ability to attract and retain talented executive management and sales personnel, our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, changes in governmental regulations and legislation, the continued consolidation of payors, acceptance of our new products and services, patent protection, adverse regulatory action, litigation success, our ability to successfully create a new holding company structure and to anticipate the benefits of such structure. For further details and a discussion of these and other risks and uncertainties, please see our public filings with the Securities and Exchange Commission, including our latest periodic reports on Form 10-K and 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Contact: BioTelemetry, Inc. Heather C. Getz Investor Relations 800-908-7103 firstname.lastname@example.org