CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias, announced today its entry into the cardiac clinical research services business and the acquisition of Biotel, Inc. (Bulletin Board: BTEL.OB). The two companies entered into a binding definitive merger agreement for CardioNet to acquire Biotel for $4.82 per share in cash, for a total transaction value of approximately $14 million.
