Bioheart has entered into a non-binding letter of intent to acquire Medicalgorthmics, and the global rights to the Pocket ECG, a real-time, wireless heart monitor and diagnostic system, designed for long-term, automated electrocardiogram (ECG) arrhythmia analysis.
Under the terms of the non-binding letter of intent, both companies are expected to conduct their due diligence review within the next 60-90 days, according to the Sunrise, Fla.-based Bioheart. The terms of the agreement were not disclosed.
Pocket ECG connects to the patient via two or three electrodes and wirelessly transmits real time data 24-hours-per-day directly to the physician or a monitoring center so that long-term outpatient monitoring can be conducted over days or weeks, Bioheart said.
The device, manufactured by Medicalgorthmics in Austin, recently received CE mark approval for marketing throughout Europe.