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BEAT - BioTelemetry: I Foresee Further Share Price Growth Going Into New Year
Heartbeam Inc.
Investment Thesis
I last wrote about BioTelemetry (BEAT) at the end of May. At that time the share price had fallen sharply from a February high of $75 to just over $48.
It seems likely that BioTel's share price had risen thanks to a collaboration with Apple Health. Apple (AAPL) wanted to test the capabilities of its smartwatches to detect arrhythmias, irregular heartbeats, and possible atrial fibrillation. BioTel was able to supply monitoring software and also hardware.
When the trial concluded in March this year 419,297 smartwatch wearers had been tested