Tunstall Healthcare Group, a U.K.-based telehealth company, has completed its acquisition of American Medical Alert Corp., a remote-monitoring and communications services provider based in New York City.
Tunstall completes American Medical Alert buy
According to the terms of the agreement, first announced in September, Tunstall paid $8.55 a share without interest in an all-cash deal, a price that represented a 50% premium over American Medical Alert Corp.'s closing price on Sept. 22.
In a news release, AMAC CEO Jack Rhian said the deal would boost AMAC's engineering and manufacturing capabilities and ensure that the company is able to "serve the full spectrum of healthcare providers with remote patient monitoring devices and services as the U.S. government and medical providers seek to provide accountable and cost-efficient patient care."
AMAC will continue to operate under its existing brand, according to the release.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.