BioTelemetry, Inc. (NASDAQ:BEAT) Q4 2019 Earnings Conference Call - Final Transcript

Feb 26, 2020 • 05:00 pm ET

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BioTelemetry, Inc. (NASDAQ:BEAT) Q4 2019 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

[Operator Instructions] Our first question comes from Kaila Krum with SunTrust. Your line is now open.

Analyst
Kaila Krum

Hi guys, thanks so much for taking our questions. So first on the healthcare services business, a great quarter with 9% growth and hurdling those malware issues in the quarter. So first, is there a way to quantify how those malware issues impacted the business in the fourth quarter? Did they weigh on your performance at all? And just any additional color there would be helpful.

Executive
Joseph H. Capper

They certainly weighed on our performance. I can't tell you exactly how much. We tried to capture that in our revenue range that we had put out prior to the quarter, and I think we put out $108 million to $113 million, as I recall, based on the information we had at the time. We actually did much better than we thought we would through the quarter. We were up and running a lot quicker than we thought, and we had less impact. That being said, there was significant impact. And sometimes, it takes a while before you can look back and actually calculate what exactly that impact was.

Analyst
Kaila Krum

Makes a lot of sense. But, no, that's helpful. And then, can you just remind us or just give us any updated thoughts on your strategy in the extended-wear Holter market? Obviously, we won't know final reimbursement rates until mid-year. But curious how you are thinking about this opportunity in the interim, how you're planning to invest in this market this year and just how you're thinking about it contributing to growth in 2020?

Executive
Joseph H. Capper

Yeah. The potential for any reimbursement change does not affect our approach to the market at all. For some time, our team has been trained on detailing and positioning our portfolio of solutions to the healthcare providers. So we have an array of remote cardiac monitoring solutions, some of which are appropriate for different types of patients. And we educate the physician on what the capabilities are of each one of these solutions, and then it's really their decision on what's modality they choose for which patients, which patient type and which condition. So we really sell the portfolio. Extended-wear Holter is actually growing at the fastest rate within the portfolio, given the market dynamics and the fact that it's newer and it's tending to replace some of the older modalities.

Analyst
Kaila Krum

Great. Thank you, guys.

Executive
Heather Getz

Thanks Kaila.

Operator
Operator

Our next question comes from Brooks O'Neil with Lake Street Capital. Your line is now open.

Analyst
Frank Takkinen

Hey, Frank Takkinen on for Brooks. Thanks for taking my questions. I just have two today. First, I was hoping you could help us think about the contribution you're thinking from Geneva for your fiscal year '20 guidance. I know you're not going to get too specific with it. But seeing it's about $5.5 million, $6 million in revenue by my estimates, just curious if you could kind of quantify how you feel about the growth profile of that in 2020.

Executive
Joseph H. Capper

Yeah, it's