Tunstall Healthcare Group, a provider of telecare/telehealth solutions, has signed a definitive agreement to take over American Medical Alert (AMAC), a US based provider of remote health monitoring services.
Under the agreement, Tunstall will acquire all of the outstanding common shares of AMAC for $8.55 per share.
The transaction is expected to close at the end of the fourth quarter of 2011.
AMAC president and CEO Jack Rhian said by joining with Tunstall, AMAC will have unprecedented access to its engineering and product portfolio as well as its global operating resources.
"This transaction will allow AMAC to accelerate the scope of our portfolio in both remote patient monitoring and call center solutions thereby benefiting our entire customer base," Rhian said.