Tunstall Healthcare Group has entered into a definitive agreement to acquire American Medical Alert, a provider of remote health monitoring and 24/7 communication services.
Tunstall will pay $8.55 per share in cash without interest, plus one contingent payment right per share.
New York-based American Medical Alert has two business divisions, Health and Safety Monitoring Systems and Telephony Based Communication Services.
American Medical Alert president and CEO Jack Rhian said that the transaction will allow the company to rapidly accelerate the scope of its portfolio in both remote patient monitoring and call centre solutions, thereby benefiting the entire customer base.
The transaction is expected to close in fourth quarter of 2011.