Multi-million pound US deal for Tunstall
TELEPHONE health and care system maker Tunstall has acquired a New York-based company in a £53.2m deal.
American Medical Alert Corp (AMAC) has two divisions providing remote health monitoring and communication services said to improve care and response times.
It runs a contact centre services group which provides concierge level communication services to all types of healthcare entities, including physician groups, hospitals, homecare and the pharmaceutical industry.
Gil Baldwin, chief executive of Tunstall, said: “AMAC will make a great addition to the Tunstall Group. We share the same vision and complement each other in a number of areas.
“AMAC will support our ambitious growth plans in the United States. As one of the largest providers of PERS (Personal Emergency Response Systems) in the US with 75,000 subscribers nationwide and a strong reach within hospital systems, home healthcare, government agencies and senior living facilities, I believe there will be far reaching benefits for all of our customers, partners and employees of the group.”
Jack Rhian, president and chief executive officer of AMAC, said: “We believe the decision by the board to merge with Tunstall is good for shareholders, employees and our customers.”
Whitley Bridge-based Tunstall is to acquire all outstanding common shares of AMAC for $8.55 (£5.53) per share in cash without interest.
The transaction is expected to complete in the final three months of 2011.
