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LifeWatch board approves improved BioTelemetry offer

The board of Switzerland-based digital health services provider LifeWatch AG unanimously agreed to accept BioTelemetry Inc.'s improved public takeover offer.

The LifeWatch board concluded that the improved price is fair and adequate, and the deal is in the best interest of the company, LifeWatch said in a news release.

Further, Aevis Victoria SA and Himalaya TMT Fund intend to accept the increased offer.

BioTelemetry recently raised its offer price for LifeWatch to CHF269 million from CHF260 million and extended the offer period to June 8 from May 31. The deal will be transacted through BioTelemetry unit Cardiac Monitoring Holding Co. LLC.