// RECENT NEWS
Browse our recent Press Releases below:

2/18/2010
Biotel Announces Results for Second Quarter ended December 31, 2009
Minneapolis, February 18, 2010 –- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for its second quarter ended December 31, 2009, with a net loss of <$47,000>, or <0.02> per diluted share, on revenues of $2,452,000. This compares to net earnings of $289,000, or $0.10 per diluted share, on revenues of $3,186,000 for the second quarter of last year. For the six months ended December 31, 2009, Biotel had net earnings of $81,000, or $0.03 per diluted share, on revenues of $5,175,000. This compares to net earnings of $617,000, or $0.22 per diluted share, on revenues of $6,354,000 for the first six months of last year.

Highlights for the second quarter are as follows:
• Reduced revenues arising from reduced wireless product sales activity
• First quarterly loss after twelve successive profitable quarters
• Quarterly legal expenses related to:
    o a complaint filed by Biotel versus CardioNet related to merger consummation, and
    o a patent complaint filed by LifeWatch versus Braemar
• Cash position remains strong, at $1.7 million, with no bank debt

“A 23% decrease in second quarter revenues was primarily the result of significantly diminished sales of Braemar’s ER920W wireless event recorder following announcement of Biotel’s planned merger with CardioNet, Inc. and the subsequent termination of that agreement by CardioNet,” Biotel President and CEO Steve Springrose said. “Biotel incurred additional legal expenses in the second quarter of fiscal 2010 related to the two matters as identified above. We expect to continue to incur a significant level of legal expenses during the next twelve months and have elected to expense those fees as incurred. Looking ahead, Braemar expects that wireless product revenues will remain diminished in the second half of the fiscal year.”

Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.
11/20/2009
Biotel Announced Profitable First Quarter ended September 30, 2009
Minneapolis, November 20, 2009 –- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for its first quarter ended September 30, 2009 with net earnings of $128,000, or $0.04 per diluted share, on revenues of $3,263,000. This compares to net earnings of $328,000, or $0.11 per diluted share, on revenues of $3,168,000 for the first quarter of last year.

Commenting on the first quarter results, Biotel President and CEO Steve Springrose said: “Biotel enjoyed strong sales and earnings through the first quarter and believes its upcoming new wireless event and MCT products have favorable attributes for the arrhythmia service market. Nevertheless, sales of Braemar wireless arrhythmia monitors are expected to diminish versus fiscal year 2009. Following the announcement of Biotel’s planned merger with CardioNet, Inc, many of our customers made other plans for the purchase of wireless products they had intended to purchase from us. We expect that many of these customers will not purchase their future requirements for wireless products from us notwithstanding the termination of the merger agreement by CardioNet. On July 16, 2009, Biotel commenced a lawsuit claiming CardioNet breached and improperly terminated the merger agreement. Biotel is seeking specific performance and damages.

“We are not forecasting major national customers for our Fusion MCT products and will market Fusion and ER920W devices to regional scanning services. Additionally, two major customers issued purchase orders for wireless and event recorder products in the period following announcement of the merger agreement. These orders appear to have been last time buy opportunities for such customers, and the purchases propelled sales revenues through the first quarter just ended. These orders have been substantially filled, revenues are expected to diminish, and Biotel does not project profitability through the remainder of the fiscal year.

“Furthermore, Medicare has recently announced that event recorder reimbursement will diminish 7% and Holter reimbursement will diminish 16% in 2010. This may place downward pressure on pricing and sales of our traditional non-wireless product lines. Agility’s business has diminished due to fewer contracted atrial fibrillation clinical trials, the principal source of Agility’s revenues. Agility is incurring operating losses but has won new arrhythmia clinical research business projected to begin in June, 2010.”
9/30/2009
Biotel Announces Fourth Quarter and Year End Results
Minneapolis, September 30, 2009 –- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for the fiscal year ended June 30, 2009, with net earnings of $944,000, or $0.33 per diluted share, on revenues of $12,640,000. This compares to net earnings of $666,000, or $0.23 per diluted share on revenues of $11,495,000 in fiscal year 2008. For its fourth quarter, the Company reported net earnings of $174,000 or $0.06 per diluted share, on revenues of $3,165,000. This compares to net earnings of $191,000, or $0.07 per diluted share, on revenues of $3.187,000 in the fourth quarter of fiscal 2008.

Steve Springrose, Biotel President and CEO said “While we are pleased with the results of operations for our fiscal year, CardioNet terminated its planned merger with Biotel in a subsequent event. Biotel has filed a complaint demanding that CardioNet complete the merger, and has asked for expedited treatment by the court. As a result of the terminated Merger Agreement, we expect revenues from a number of significant customers could be less in 2010 than in 2009.”
7/14/2009
CardioNet Terminates Merger with Biotel
Minneapolis, July 14, 2009 -- Biotel Inc. (Bulletin Board: BTEL.OB) today announced that CardioNet has advised Biotel that it is terminating the Merger Agreement with Biotel due to a failure of Biotel to comply with the terms of the agreement. Biotel believes it has complied with all terms of the agreement and that CardioNet’s claim is without merit and inconsistent with CardioNet’s representations to Biotel. Biotel is considering its legal options.

Biotel President and CEO Steve Springrose said: “It is unfortunate that CardioNet took this action. Biotel has developed significant new products in wireless MCT and event recorder applications. These products are of significant value to arrhythmia service organizations, and Biotel believes these products are cost effective and well positioned for the current medical reimbursement climate. Biotel has worked to build its shareholder value by expanding its range of products and services. Biotel will continue to position these new wireless products to maximize growth and opportunities going forward.”

Biotel supplies completed medical devices and clinical research services to medical companies including ECG diagnostic products, wireless MCT and event recorders, Holter recorders, tissue management devices, and 24/7 clinical ECG research services.
4/2/2009
CardioNet Expands Product Offering and Launches Clinical Research Services - Announces Acquisition of Biotel
Conshohocken PA, April 2, 2009 –- CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias, announced today its entry into the cardiac clinical research services business and the acquisition of Biotel, Inc. (Bulletin Board: BTEL.OB). The two companies entered into a binding definitive merger agreement for CardioNet to acquire Biotel for $4.82 per share in cash, for a total transaction value of approximately $14 million.

The acquisition of Biotel expands CardioNet’s product portfolio with a recently approved wireless event monitor, enhancing CardioNet’s leadership position in the rapidly emerging field of wireless medicine. With the acquisition, CardioNet provides physicians and patients with the most comprehensive array of products for the diagnosis and monitoring of cardiac arrhythmias. The Company’s product portfolio will include Holter monitoring, wireless event monitoring and CardioNet’s Mobile Cardiac Outpatient Telemetry™ (MCOT™), the leading system for wireless diagnosis and monitoring of cardiac arrhythmias.

As part of the acquisition, CardioNet is acquiring Biotel’s wholly-owned subsidiary, Agility Centralized Research Services, based in Chicago. Agility provides event, Holter and twelve lead ECG monitoring services to the medical device and pharmaceutical industries, as well as to contract research and academic research organizations worldwide. This service allows for the monitoring of cardiac conditions and therapeutic evaluation within clinical trials. CardioNet has stated publicly that the contract research industry represents a substantial opportunity to leverage the Company’s product portfolio and platform technology. This is the first step in the strategic expansion of the CardioNet business outlined by the Company earlier this year.

Randy Thurman, Chairman, President and Chief Executive Officer of CardioNet, said, “The acquisition of Biotel expands CardioNet’s existing cardiac arrhythmia monitoring business with an experienced design and development team, as well as providing state-of-art manufacturing capabilities to support our rapidly growing business. We previously identified clinical services as a natural and strategic extension of our business, for both our current cardiac monitoring service and potential new monitoring markets. There is strong demand in the healthcare industry for these services and the continuous wireless monitoring provided by MCOT is ideally suited for the reliable collection and analysis of ECG data for patients participating in clinical trials. This service can be a strategic asset to medical device and pharmaceutical companies during product development. The acquisition of Biotel provides us with an ideal launching platform into this business. We look forward to collaborating with our new colleagues at Biotel to integrate our operations, expand our R&D capabilities, and accelerate the growth of the clinical service business."

Steven Springrose, President and Chief Executive Officer of Biotel, said, “The CardioNet and Biotel businesses represent a strong strategic match and we are very excited to join an established, high growth company that can contribute to the acceleration of our growth. This transaction highlights the value of our existing products, design and development teams and clinical services business. I would like to thank all of Biotel’s employees for their dedication and hard work, which have been fundamental in the success of our Company.”

Financial Terms
Under the terms of the merger agreement, CardioNet will acquire all of the outstanding shares of Biotel common stock at a price of $4.82 per share in cash. The Board of Directors of CardioNet and Biotel have approved the transaction. The transaction is subject to approval by Biotel’s shareholders and other customary closing conditions. CardioNet and Biotel expect the transaction to close in mid-2009.

CardioNet expects the transaction to have a dilutive impact of $0.01 on 2009 earnings per diluted share and to be accretive to 2010 earnings by $0.01 to $0.02 per diluted share. Thereafter, the Company expects the acquisition to contribute to higher earnings growth.

About Biotel
Biotel, Inc., through its subsidiaries, engages in the development, manufacture, testing, and marketing of medical devices and related software products. It offers digital cardiac event recorder products and wireless event recorder products, which record heart functions over a month or longer time period to record infrequent events, such as arrhythmia; the company also offers Holter recorders. The company provides electrocardiogram data and management services used to evaluate cardiac conditions in conjunction with clinical trials on new medical devices and pharmaceuticals. The company is based in Eagan, Minnesota. More information can be found at http://www.biotelinc.com.

About CardioNet
CardioNet is the leading provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as Mobile Cardiac Outpatient Telemetry™ (MCOT™). More information can be found at http://www.cardionet.com.

Biotel Forward Looking Statements
This press release includes certain forward-looking statements regarding Biotel within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the completion of the acquisition of Biotel by CardioNet. These statements may be identified by words such as “expect,” “anticipate,” “estimate,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, the ability of CardioNet to complete the acquisition of Biotel. For further details and a discussion of these and other risks and uncertainties, please see Biotel’s public filings with the Securities and Exchange Commission, including Biotel’s latest periodic report on Form 10-K or 10-Q. Biotel undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Biotel Inc. intends to file with the Securities and Exchange Commission a proxy statement and other relevant materials in connection with the merger. The proxy statement will be mailed to the shareholders of Biotel Inc. Investors and security holders of Biotel Inc. are urged to read the proxy statement and the other relevant materials when they become available because they will contain important information about Biotel Inc. and the merger.

The proxy statement and other relevant materials (when they become available), and any other documents filed by Biotel Inc. with the Securities and Exchange Commission, may be obtained free of charge at the SEC’s Web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the Securities and Exchange Commission at Biotel Inc.'s Web site at www.biotelinc.com.

Investors and security holders are urged to read the proxy statement and the other relevant materials when they become available before making any voting or investment decision with respect to the merger.

CardioNet Forward Looking Statements
This press release includes certain forward-looking statements regarding CardioNet within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the completion of the acquisition of Biotel by CardioNet’s business operations and financial results, the prospects for CardioNet’s products, CardioNet’s projected operating results for 2009 and CardioNet’s confidence in its future. These statements may be identified by words such as “expect,” “anticipate,” “estimate,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, the ability to complete the acquisition of Biotel and integrate its operations into CardioNet’s business, the success of CardioNet’s sales and marketing initiatives, CardioNet’s ability to attract and retain talented executive management and sales personnel, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, changes in governmental regulations and legislation, changes to reimbursement levels for CardioNet’s products, the continued consolidation of payors, acceptance of our new products and services and patent protection and litigation. For further details and a discussion of these and other risks and uncertainties, please see CardioNet’s public filings with the Securities and Exchange Commission, including CardioNet’s latest periodic report on Form 10-K or 10-Q. CardioNet undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
2/12/2009
Biotel Announces Profitable Second Quarter ended December 31, 2008
Minneapolis, February 12, 2009 -- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for its second quarter ended December 31, 2008, with net earnings of $289,000, or $0.10 per diluted share, on revenues of $3,186,000. This compares to net earnings of $206,000, or $0.07 per diluted share, on revenues of $2,859,000 for the second quarter of last year. For the six months ended December 31, 2008, Biotel had net earnings of $617,000, or $0.22 per diluted share, on revenues of $6,354,000. This compares to net earnings of $376,000, or $0.13 per diluted share, on revenues of $5,610.000 for the first six months of last year.

Highlights for the second quarter are as follows:
• Ninth consecutive profitable quarter
• Net income up 40.3% year over year
• Strong gross margin of 45.9%, versus 44.7% a year ago
• Strong balance sheet with no long-term bank debt
• Stockholders’ equity of $5,320,000, up 22.8% year over year

“We are pleased with Biotel’s revenue growth, margin improvement and overall performance in the second quarter,” Biotel President and CEO Steve Springrose said. “Sales of the Braemar ER920W wireless arrhythmia monitor remained strong as one of our OEM partners continued ordering product for inventory stocking. We expect sales to this customer to diminish in the second half. Sales of Braemar Holter devices, event recorders, liposuction equipment and other medical devices remained solid. Having received FDA 510(k) approval of our Fusion platform of wireless ECG monitoring products, we are beginning shipments of an evaluation version of the product this quarter, followed by a planned limited clinical release and distribution of Fusion products in our fourth quarter. Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.”
11/17/2008
Biotel Announces Profitable First Quarter ended September 30, 2008
Minneapolis, November 17, 2008 -- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for its first quarter ended September 30, 2008, with net earnings of $328,000, or $0.11 per diluted share, on revenues of $3,168,000. This compares to net earnings of $170,000, or $0.06 per diluted share, on revenues of $2,751,000 for the first quarter of last year.

Highlights for the first quarter are as follows:
• Eighth consecutive profitable quarter
• Net income up 93.1% year over year
• Strong gross margin of 45.8%, versus 41.7% in the fourth quarter and 45.6% a year ago
• Strong balance sheet with no long-term bank debt
• Stockholders’ equity of $5,030,000, up 22.2% year over year

“With strong revenues and good margins in the first quarter of our 2009 fiscal year, our result was exceptionally strong bottom line performance,” Biotel President and CEO Steve Springrose said. “Sales of the Braemar ER920W wireless arrhythmia monitor introduced in the fourth quarter of fiscal year 2008 exceeded our expectations as one of our OEM partners ordered significant quantities of stocking units for inventory and product launch. We expect sales to this customer to continue into the second quarter, but to slow significantly in the second half. Sales of Braemar Holter devices, event recorders, liposuction equipment, other medical devices and Agility clinical services remained solid. Having received FDA 510(k) approval of our Fusion platform of wireless ECG monitoring products, we are moving steadily toward introduction of our first Fusion product early in calendar 2009. Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.”
9/30/2008
Biotel Announces Record Revenues and Earnings for Fiscal 2008
Minneapolis, September 30, 2008 -- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for the year ended June 30, 2008, with net earnings of $666,000, or $0.23 per diluted share, on revenues of $11,495,000. This compares to net earnings of $520,000, or $0.19 per share, on revenues of $11,233,000 for the prior year. For its fourth quarter, the company reported net earnings of $191,000, or $0.07 per diluted share, on revenues of $3,187,000. This compares to net earnings of $221,000, or $0.08 per diluted share, on revenues of $3,115,000 in the fourth quarter of 2007.

Highlights for the quarter and year are as follows:
• Sixth year in a row of profitable growth.
• Record sales for the fourth quarter and year
• Net income for the year up 28.1 percent over 2007
• Gross margin for the year was 44.4% versus 42.6% last year

“Biotel achieved a record fiscal year in revenues and earnings with a strong improvement in the fourth quarter over the third quarter,” Biotel President and CEO Steve Springrose said. “Our Braemar Holter devices, event recorders, liposuction and other medical devices made strong revenue contributions, and our Agility 24/7 cardiac monitoring services continued to make very strong year over year gains. The highlight of the quarter was the introduction of our new ER920W cardiac arrhythmia monitor, our first entry into the high potential wireless market. Very importantly, we have already received FDA 510(k) approval of our next generation wireless monitor employing ‘Fusion’ technology, scheduled for product introduction early in calendar 2009. Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.”
6/12/2008
Braemar Introduces the ER920W Wireless Cardiac Arrhythmia Monitor showcased at HRS Conference
Minneapolis, June 12, 2008 – Braemar, Inc., a subsidiary of Biotel, Inc. (BTEL.OB) and a world leader in ambulatory cardiac monitoring devices, has introduced the ER920W, an advanced wireless device that integrates cardiac arrhythmia monitoring and cell phone technologies in one unit. The ER920W is a digital loop recorder with on-board arrhythmia detection algorithms for automatic detection, recording and immediate transmission of patient data files to a service center for analysis and physician attention. Transmission occurs without patient interaction and without connection through a separate cell phone, reducing potential anomalies in the prescribed testing routine and avoiding the possibility of the patient forgetting to carry the cell phone. The device, which has FDA 510(k) clearance, was showcased at the recent Heart Rhythm Society (HRS) conference in San Francisco.

The ER920W connects the patient to a 24/7 monitoring center. Its telecommunications architecture, including cellular network, Internet and Braemar’s proprietary LINX Management software interface, allows for bidirectional data flow, so the physician can monitor the patient’s cardiac events and remotely program the device as required. The cellular transmitter embedded in the ER920W uses a “Quad-Band” modem for maximum flexibility and is compatible with both GSM and GPRS cellular networks.

“The ER920W is an advanced arrhythmia monitor with proprietary technology that we believe represents the next generation of cardiac event monitoring,” Harry Strandquist, President of Braemar, Inc. said. “The ER920W provides faster patient diagnosis, improves patient compliance and is far superior to the current cumbersome transmission method. This device is the first in a series of Braemar wireless arrhythmia monitoring products currently under development.”

Cardiac arrhythmia monitors are worn by patients for up to 30 days to document and record transient cardiac events. Recording of symptomatic events such as syncope, palpitations, dizziness, chest discomfort and shortness of breath is activated by the patient. The ER920W enhances diagnostic yield with embedded algorithms that automatically detect, record and immediately transmit asymptomatic events such as atrial fibrillation, bradycardia, tachycardia and cardiac pause.

Braemar, Inc., designs, develops, engineers and manufactures ambulatory cardiac monitoring and other medical devices. The company provides high-quality, reliable devices to OEM partners worldwide.
5/30/2008
Braemar Introduces the DL900 Advanced Holter Monitor showcased at ACC and HRS conferences
Minneapolis, May 30, 2008 – Braemar, Inc., a subsidiary of Biotel, Inc. (BTEL.OB) and a world leader in ambulatory cardiac monitoring devices, has introduced the DL900, an advanced digital Holter monitor. At 1.75 ounces, the new monitor is more compact and discrete than earlier models, yet provides a large liquid crystal display (LCD) and extended recording time of up to seven days. A newly designed, custom analog IC for signal acquisition is the technology platform for the advanced capabilities of the DL900. The device was showcased at the recent American College of Cardiologists (ACC) conference in Chicago and the Heart Rhythm Society (HRS) conference in San Francisco.

“The DL900 was enthusiastically received at both ACC and HRS,” Harry Strandquist, President and CEO of Braemar, Inc. commented. “Our partners are in the process of integrating this new device into their ambulatory cardiac monitoring product lines.”

The DL900 increases diagnostic yield and provides extended recording time of several days or more for clinical research applications. The device combines high speed USB transfer capability with the ability to use a removable SD memory card. The DL900 provides high-resolution recordings as well as high sampling rate options suitable for both clinical and research applications. A programmable pacemaker detection capability provides the clinician with additional data.

The DL900's advanced technology platform has the capacity to support numerous OEM capabilities, including multi parameter recording and data storage of a variety of physiological signals.

Braemar, Inc., designs, develops, engineers and manufactures ambulatory cardiac monitoring and other medical devices. The company provides high-quality, reliable devices to OEM partners worldwide.
5/14/2008
Biotel Announces Profitable Third Quarter ended March 31, 2008
Minneapolis, May 14, 2008 -- Biotel Inc. (Bulletin Board: BTEL.OB) announced results for its third quarter ended March 31, 2008 with net earnings of $99,000, or $0.03 per diluted share, on revenues of $2,699,000. This compares to net earnings of $190,000, or $0.07 per diluted share, on revenues of $2,990,000 for the third quarter of last year. For the nine months ended March 31, 2008, Biotel had net earnings of $475,000, or $0.17 per diluted share, on revenues of $8,309,000. This compares to net earnings of $299,000, or $0.11 per share, on revenues of $8,119,000 for the first nine months last year.

Highlights for the third quarter are as follows:
• Sixth consecutive profitable quarter
• Gross margin of 45.8%, up from 43.0% a year ago
• Strong balance sheet with no long-term debt
• Stockholders’ equity of $4,445,000, up 13.0% year over year

“Biotel made good progress building for the future in the third quarter, and the quarter’s decrease in revenues had been preceded by some very strong quarters,” Biotel President and CEO Steve Springrose said. “Sales of Holter devices, event recorders, liposuction and other medical devices remain solid. The third quarter was diminished as some of our customers deferred purchases in anticipation of important new products. We launched a new Holter platform in March and are preparing to launch our ER900 Wireless Event Recorder in our current quarter. The growth trend for our Agility 24/7 cardiac monitoring services continued to rise in the third quarter, contributing significantly to gross margin improvement. R&D expenses were up significantly in the quarter as we invested in new products and prototype parts. These expenses are essential to future product competitiveness. In keeping with our long-term strategy, Biotel serves as a development partner to medical corporations seeking new devices and clinical research services.”
11/14/2007
Biotel Announces Strong Results for the First Quarter ended September 30, 2007 FDA 510(k) Clearance for the Braemar ER900 Wireless Event Recorder
Minneapolis, November 14, 2007 -- Biotel Inc. (Bulletin Board: BTEL.OB) announced strong sales and earnings for its first quarter ended September 30, 2007. The Company had net earnings of $170,000, or $0.06 per diluted share, on revenues of $2,751,000. This compares to a net loss of $11,000, or $0.00 per diluted share, on revenues of $2,424,000 for the first quarter of last year.

Highlights for the first quarter are as follows:
• 13.5% revenue growth, year over year
• Gross margin of 45.6%, up from 40.7% a year ago
• Operating expenses reduced to 36.1% of revenues from 40.8% last year
• Operating margin of 9.5% versus a loss a year ago
• Net margin of 6.2% versus a loss a year ago
• Strong balance sheet with no long-term debt
• Stockholders’ equity of $4,115,000, up 4.6% year over year

“We had a strong first quarter beginning our fiscal year with year over year growth in product and service revenues and improved margins,” Biotel President and CEO Steve Springrose said. “Compared to the first quarter of fiscal 2007, we had increased sales of our Braemar cardiac event recorders, Holter devices, liposuction and other medical devices. Revenues from our Agility 24/7cardiac monitoring services for clinical research continued to grow rapidly. Biotel continues to serve as a development partner to medical corporations seeking new devices and clinical research services, in keeping with our long-term strategy.”

In the first quarter, Biotel held operating expenses flat from a year ago, even with a 10.3% increase in Research and Development. “We continued to put emphasis on R&D to expand our proprietary technology across our product spectrum,” Springrose commented. “Most importantly, we received FDA 510(k) clearance in October to market our Braemar ER900 Wireless Event Recorder. This is a cardiac looping recorder and cellular transmitter, the first in a series of Braemar wireless products that will transmit cardiac information through cellular networks without patient interaction. We believe this will give us a leadership position in a new era of cardiac monitoring technology.”
10/1/2007
Biotel Announces Record Revenues and Strong Earnings for the Fourth Quarter and Year
Minneapolis, October 1, 2007 -- Biotel Inc. (Bulletin Board: BTEL.OB) announced record sales and strong earnings for both its fourth quarter and fiscal year ended June 30, 2007. The Company had net earnings of $220,780, or $0.07 per diluted share, in the fourth quarter on revenues of $3,114,791. This compares to net earnings of $26,628, or $0.01 per diluted share, on revenues of $2,734,911 for the fourth quarter of last year. Net earnings for the year ended June 30, 2007, were $519,733, or $0.19 per diluted share, on revenues of $11,233,397. This compares to net earnings of $452,225, or $0.16 per diluted share, on revenues of $10,223,332 last year.

Highlights for the quarter and year are as follows:
• Fifth consecutive year of profitability
• 15.0% net income growth for year
• 9.9% revenue growth for year; 13.9% for Q4
• Net cash of $1.4 million provided from operations in fiscal year
• Strong balance sheet with long-term debt reduced to zero from $620,000 last year
• Stockholders’ equity of $3,932,500, up 18.7% for fiscal year

“We closed a strong fiscal year with a very strong fourth quarter, as a result of growth in our product and service revenues and improved margins,” Biotel President and CEO Steve Springrose said. “We experienced steadily increasing sales of our Braemar cardiac event recorders, Holter devices, liposuction and other medical devices. Revenues from our Agility 24/7cardiac monitoring services for clinical research continued to grow rapidly. Biotel is successfully implementing its strategy of serving as a development partner to medical corporations seeking new devices and clinical research services.”

In fiscal 2007, Biotel increased research and development expenditures by $243,000 to almost $1.5 million, or 13 percent of revenues. “We continued our focus on proprietary technology at Biotel through significant R&D programs,” Springrose commented. “This has enabled us to introduce the Braemar ER900L, expanding our line of event monitors, and to develop the next generation of Braemar Holter cardiac recording devices, which we are preparing to launch. More importantly, we are positioning Biotel to compete effectively in the dawning era of wireless cardiac monitoring with innovative, state-of-the-art products and service offerings.”
5/14/2007
Biotel Announces Record Revenues and Strong Earnings for the Third Quarter ended March 31, 2007
Minneapolis, May 14, 2007 -- Biotel Inc. (Bulletin Board: BTEL.OB) announces record sales for the third quarter ended March 31, 2007, having attained revenues of $2,990,000 versus $2,469,000 for the quarter ended March 31, 2006. Net earnings for the quarter ended March 31, 2007 were $190,000 compared to $130,000 for the quarter ended March 31, 2006. Revenues and net income for the nine months ended March 31, 2007 were $8,119,000 and $299,000, respectively, versus revenues and net income of $7,488,000 and $426,000, respectively, for the nine months ended March 31, 2006.

Biotel President and CEO Steve Springrose said, “Growth rates for contract manufacturing at Braemar and research services at Agility have been strong. Biotel business from these subsidiaries involves sales to medical corporations, where the Company’s core business has advanced 28.5% on the quarter ended March 31, from $2,196,000 a year ago to $2,820,000 for the quarter just ended. Increasing sales of Braemar event recorders and Holter devices along with the intensification of Agility contract research services are responsible for the growth.

Furthermore, nine month earnings for fiscal 2007 give an impression of Biotel profitability that is lower than our expectation going forward. This is because of one time charges experienced in the first quarter related to new product development expenses and management’s decision to advance the timeframe for completing the Agility purchase to an opportune time. In the quarter just ended, Biotel expended a very healthy 11.4% of revenues toward R&D. Product development expenses are expected to grow steadily with revenues going forward. Since the Agility purchase has been completed, no purchase related expenses are required for this business unit in coming periods.

Biotel continues to advance in accordance with its plans to become a development partner for medical corporations seeking new devices and clinical research services. Biotel has a strong position as a contract manufacturer of battery powered ECG diagnostic devices, liposuction equipment, and ECG research services for manufacturers evaluating products and collecting patient ECG information to be submitted to FDA. Biotel’s portfolio of products offered to diagnostic cardiology and cosmetic surgery manufacturers is expanding, with the development of Braemar’s new Holter and event recording devices and a new portable unit for liposuction procedures. Our Agility clinical ECG research subsidiary has continued its progress in signing contracts and supporting clinical trials utilizing Holter and event recorder data collection and management. We are happy to see our continued growth and profitability.”
2/15/2007
Biotel Reports Second Quarter Operating Results.
Minneapolis, February 15, 2007 -- Biotel Inc. (OTCBB: BTEL.OB) reported revenues for the second quarter ended December 31, 2006, up 8.5% to $2,705,000 versus revenues of $2,493,000 for the quarter ended December 31, 2005. Net earnings for the quarter ended December 31, 2006 were up 18.0% to $144,000 compared to $122,000 for the quarter ended December 31, 2005. Revenues and net income for the six months ended December 31, 2006 were $5,129,000 and $109,000, respectively, versus revenues and net income of $5,020,000 and $296,000, respectively, for the six months ended December 31, 2005.

Biotel President and CEO Steve Springrose said “Biotel continued its growth in Holter, arrhythmia, and research services over the second quarter. Sound and growing business relationships with Braemar OEM’s and revenue increases in event recorders lifted the quarter.”

Mr. Springrose continued “Biotel has made a significant commitment to product development and diversification to expand our markets. A new Holter recorder and a new event recorder are expected to launch by the end of the fiscal year. While research and development expenses peaked in the first quarter in connection with new product activity, Biotel committed fully 12% of revenues to new product development in the second quarter. Biotel is expanding its range of arrhythmia monitoring products and services to capitalize on developing business opportunities. Additional to these R&D expenditures, Biotel has been making an after-tax investment of approximately $60,000 per quarter into the Agility clinical research business unit. Agility continues to contract clinical research studies, particularly where clinical sponsors are using Agility ECG services to evaluate devices and procedures used in the treatment of atrial fibrillation. We believe Agility has a good position in performing clinical research in this market sector, and look forward to Agility profitability in the months ahead.”
11/16/2006
Biotel Announces Revenues and Earnings for the First Quarter ended September 30, 2006.
Minneapolis, November 16, 2006 -- Biotel Inc. (OTCBB: BTEL.OB) announces revenues for the first quarter ended September 30, 2006 of $2,424,000 and a loss of $11,000 versus revenues and net income of $2,527,000 and $174,000, respectively, for the quarter ended September 30, 2005.

Biotel reported a small loss from operations following 14 successive quarters of profitability. Biotel President and CEO Steve Springrose said, “The first quarter loss was primarily related to two factors. Biotel has been investing in research and development of new Holter and event recorder products, with R&D expense up $150,000 versus a year ago. Biotel has planned increased investments in research and development in fiscal year 2007, but also believes the expenditure related to the two new products has peaked.”

Mr. Springrose continued, “Biotel also seized an opportunity in the first quarter ended September 30, 2006 by paying $80,000 to remove all future obligations of up to $150,000 related to the purchase of Agility. The $80,000 cash payment less a previous accrual of $9,000 for such obligations resulted in additional sales, general and administrative expenses of $71,000 for the first quarter just ended. With this payment, Biotel has completed all payment obligations related to the purchase of Agility.”
9/29/2006
Biotel Announces Revenues and Earnings for the Quarter and Year ended June 30, 2006.
Minneapolis, September 29, 2006 -- Biotel Inc. (Bulletin Board: BTEL.OB) is pleased to announce revenues for the year ended June 30, 2006 of $10,223,000 versus $10,169,000 for the year ended June 30, 2005. Biotel also is reporting net income of $452,000 for the year ended June 30, 2006 versus net income $444,000 in the preceding year. For the three months ended June 30, 2006, Biotel recorded revenues and net income of $2,735,000 and $27,000, respectively, versus revenues and net income of $2,833,000 and $215,000 for the three months ended June 30, 2005.

Net income decreased for the year and three months ended June 30, 2006 as a result of increases in research and development expense and costs associated with the reduction of inventory for discontinued and mature product lines and potentially undeliverable inventories due to a customer’s postponement of a product line.

Biotel President and CEO Steve Springrose said, “Despite the costs and expenses associated with increases to inventory reserves and agreements to eliminate potential legal and environmental liabilities, Biotel was able to increase earnings over fiscal year 2005. We are very pleased with the progress of our core OEM businesses and have substantially increased our commitment to research and development. We look forward to revenue growth and earnings increases in the upcoming year.”
5/12/2006
Biotel Announces Revenues and Earnings for the Third Quarter ended March 31, 2006.
Minneapolis, May 12, 2002 -- Biotel Inc. (Bulletin Board: BTEL.OB) announces sales for the third quarter ended March 31, 2006, having attained revenues of $2,469,000 versus $2,248,000 for the quarter ended March 31, 2005. Net earnings for the quarter ended March 31, 2006 were $130,000 compared to $3,000 for the quarter ended March 31, 2005. Revenues and net income for the nine months ended March 31, 2006 were $7,488,000 and $426,000, respectively, versus revenues and net income of $7,336,000 and $229,000, respectively, for the nine months ended March 31, 2005.

Biotel President and CEO Steve Springrose said “Biotel continues to advance in accordance with its plans to become a development partner for medical corporations seeking new devices and clinical services. Biotel has a strong position as a contract manufacturer of battery powered ECG diagnostic devices, liposuction equipment, and ECG research services for manufacturers evaluating products and collecting patient ECG information to be submitted to FDA. Biotel’s portfolio of products offered to diagnostic cardiology and cosmetic surgery manufacturers is expanding, with the development of Braemar’s new Holter and event recording devices and a new portable unit for liposuction procedures. Our Agility clinical ECG research subsidiary has continued its progress in signing contracts and supporting clinical trials utilizing Holter and event recorder data collection and management. Agility believes it is now the nation’s largest contractor of ECG services for new medical devices being clinically evaluated for performance to control atrial fibrillation, a difficult to manage cardiac rhythm disturbance. We are happy to see our continued growth and profitability.”
2/14/2006
Biotel Revenues and Earnings for the Second Quarter ended December 31, 2005 Meet Expectations
Minneapolis, February 14, 2006 -- Biotel Inc. (OTCBB: BTEL.OB) announces revenues for the second quarter ended December 31, 2005 were down 4.0% to $2,493,000 versus revenues of $2,596,000 for the quarter ended December 31, 2004. Net earnings for the quarter ended December 31, 2005 were $122,000 compared to $93,000 for the quarter ended December 31, 2004. Revenues and net income for the six months ended December 31, 2005 were $5,020,000 and $296,000, respectively, versus revenues and net income of $5,087,000 and $226,000, respectively, for the six months ended December 31, 2004.

Revenues decreased slightly and earnings increased in accordance with Biotel plans in connection with discontinuation of marginally profitable product lines. OEM sales to medical corporations increased to $4,555,000 for the six months at December 31, 2005 compared to $4,336,000 for the corresponding period in 2004. Biotel President and CEO Steve Springrose said “Biotel is pleased to have initiated securities trading on the Over the Counter Bulletin Board under the symbol BTEL.OB. We are also pleased to have experienced revenue growth from our OEM customers, and sound profitability in sales to hospitals and clinics following the discontinuation of marginal product lines.”

Braemar President Harry Strandquist said, “Braemar Inc. continued its growth in Holter and arrhythmia OEM revenues over the second quarter. Enhanced relationships with existing Braemar OEM’s and the addition of new product initiatives contributed to continued earnings and revenue growth. Strong efforts to coordinate and consolidate OEM product development across Biotel will create synergy and enhance productivity in coming quarters.”
11/1/2005
Biotel Announces Revenues and Earnings for the First Quarter ended September 30, 2005.
Minneapolis, November 16, 2005 -- Biotel Inc. (Pink Sheets: BTEL) announces revenues and net income for the first quarter ended September 30, 2005 of $2,527,000 and $174,000, respectively, versus revenues and net income of $2,491,000 and $133,000, respectively, for the quarter ended September 30, 2004. Income from operations was up 38% to $291,000 in the first quarter of fiscal 2006 compared to $211,000 in the first quarter of fiscal 2005.

Biotel President and CEO Steve Springrose said, “Biotel has been expanding its range of high technology medical devices, and has found success selling products of its own design, testing, and manufacture to medical corporations seeking to outsource completed medical devices. Biotel products, primarily sold to manufacturers of cardiology and cosmetic surgery systems, offer an excellent blend of performance, reliability, and value. As a result, specialized medical devices made by Biotel are a cost effective way for medical corporations to complement their overall product range. Biotel is pleased to report record first quarter revenues in fiscal year 2006 following an exceptionally strong first quarter in the previous year. We believe these results are indicative of the overall success of Biotel’s marketing plan.

In October 2005, Biotel settled its litigation involving a former executive officer, Carroll L. Turner. Biotel paid $25,000 to resolve the matter, which amount included $21,000 of accrued vacation pay owed to Mr. Turner. Mr. Springrose commented that “Biotel is pleased to have favorably concluded this matter.”


9/30/2005
Biotel Announces Revenues and Earnings for the Quarter and Year ended June 30, 2005.
Minneapolis, September 30, 2005 -- Biotel Inc. (Pink Sheets: BTEL) is pleased to announce record revenues for the year ended June 30, 2005 of $10,169,000 versus $9,309,000 for the year ended June 30, 2004. Biotel also is reporting net income of $444,000 for the year ended June 30, 2005 versus net income $1,145,000 in the preceding year. For the three months ended June 30, 2005, Biotel recorded revenues and net income of $2,833,000 and $215,000, respectively, versus revenues and net income of $2,708,000 and $534,000 for the three months ended June 30, 2004.

Net income decreased for the year and three months ended June 30, 2005 as a result of Biotel’s investment Agility Centralized Research Services and a provision for $158,000 in income taxes. Biotel had been able to avoid payment of various income taxes in prior periods as a result of tax loss carry forwards which were substantially utilized as of June 30, 2004. Additionally, net income for the quarter and year ended June 30, 2004 benefited from an adjustment of the deferred tax valuation allowance, which contributed a $204,000 tax benefit.

Biotel President and CEO Steve Springrose said, “Biotel is very pleased with its continued growth in revenues, resulting in record sales of nearly $10.2 million. Payment of significant income taxes in fiscal year 2005 following years of net operating loss carry forwards are a sign of Biotel’s progress and financial health, despite the fact that they have negatively impacted our earnings comparisons. As a result of the success of our business model, shareholders’ equity has grown significantly over the past three years.

“We have been gratified to witness the continued expansion and deepening of our OEM customer relationships as we provide cardiology and cosmetic surgery equipment to leading medical corporations. Beginning in fiscal year 2005, Biotel invested in the start up of its Agility Centralized Research Services, Inc. subsidiary, which provides 24/7 ECG research support to medical corporations conducting clinical trials of their product lines. Our Agility venture includes investments in both equipment and operations, positioning Biotel in a growth industry which utilizes our core technologies. Agility has found initial success in contracting with medical corporations seeking to monitor patients for the presence of an ECG arrhythmia, atrial fibrillation. Agility appears to be on track to reach profitability at the end of the coming fiscal year 2006.

“Subsequent to the close of fiscal year 2005, Biotel has made the decision to terminate sales of the Advanced Biosensor Holter software, while continuing sales of Holter recorders, maintenance, and customer support for Advanced Biosensor customers. The business segment involving the sale of Advanced Biosensor Holter software had produced operating losses and was a source of competition for some of Braemar’s customers. As a result of this decision, Biotel may not experience the rate of revenue growth as has been reported in recent quarters, despite the fact that our OEM business lines are expected to continue to grow favorably. However, Biotel’s earnings should not be materially affected by this decision. ”
5/19/2005
Biotel Announces Revenues and Earnings for the Third Quarter ended March 31, 2005.
Minneapolis, May 19, 2005 -- Biotel Inc. (Pink Sheets: BTEL) announces revenues for the third quarter ended March 31, 2005 were $2,248,000 versus revenues of $2,176,000 for the quarter ended March 31, 2004. Net earnings for the quarter ended March 31, 2005 were $3,000 compared to $155,000 for the quarter ended March 31, 2004. Revenues and net income for the nine months ended March 31, 2005 were $7,336,000 and $229,000, respectively, versus revenues and net income of $6,602,000 and $612,000, respectively, for the nine months ended March 31, 2004.

Biotel President and CEO Steve Springrose said “Biotel’s earnings were curtailed in the third quarter ending March 31, 2005 compared to last year as a result of its investment in Agility Centralized Research Services, Inc. and diminished revenues from sales to hospitals and clinics, partially offset by growth in OEM sales to medical companies. Biotel earnings for the nine months ended March 31, 2005 were diminished compared to the corresponding period in 2004 as a result of the Agility investment, diminished sales to hospitals and clinics, and income taxes arising in fiscal year 2005 as a result of the consumption of operating loss carry forwards.”


2/14/2005
Biotel Announces Revenues and Earnings for the Second Quarter ended December 31, 2004.
Minneapolis, February 14, 2005 -- Biotel Inc. (OTCBB: BTEL) announces revenues for the second quarter ended December 31, 2004 were up 24.8% to $2,596,000 versus revenues of $2,080,000 for the quarter ended December 31, 2003. Net earnings for the quarter ended December 31, 2004 were $93,000 compared to $110,000 for the quarter ended December 31, 2003. Revenues and net income for the six months ended December 31, 2004 were $5,087,000 and $226,000, respectively, versus revenues and net income of $4,426,000 and $457,000, respectively, for the six months ended December 31, 2003.

Sales to medical corporations increased 22.5% to $4,336,000 for the six months at December 31, 2004 compared to $3,539,000 for the corresponding period in 2003. Biotel provides medical devices and services meeting needs of medical corporations seeking to outsource research, development and manufacturing capabilities. Biotel President and CEO Steve Springrose said “Biotel’s traditional OEM equipment revenues grew briskly in the second quarter just ended, particularly in our cardiology product lines as customers seek cost effective alternatives to internal development. The success of Biotel has resulted in the payment of income taxes beginning in the current fiscal year, and the second quarter pre-tax income was up 31% to $147,000 compared to $112,000. Biotel is pleased it could improve pre-tax income while concurrently investing significantly in its new Agility Centralized Research Services. The Agility enterprise, which initiated sales activity in the summer, has been contracting with significant corporate partners to supply round the clock ECG services.”

Braemar and Carolina Medical design, develop, and manufacture completed, tested medical devices to customers’ OEM specifications. Braemar President Harry Strandquist said, “First half results have been very strong for Braemar, Inc. across all product lines. Recent development programs, organizational enhancements, and enhanced OEM partnerships are driving revenue and earnings growth at Braemar.“

Agility President Dan Pawlik said, “In January, 2005, Agility was certified as 21 CFR 11 compliant by Regulatory/ Clinical Consultants, Inc. (“RxCCI”), a leading contract research organization (“CRO”). This certification provides independent validation of Agility as a capable and competent provider in the ECG research marketplace.”
1/1/2005
Biotel Reports Revenues and Earnings for the First Quarter ended September 30, 2004.
Minneapolis, November 19, 2004 -- Biotel Inc. (Pink Sheets: BTEL) announces revenues and net income for the first quarter ended September 30, 2004 of $2,491,000 and $133,000, respectively, versus revenues of $2,346,000 and $347,000, respectively, for the quarter ended September 30, 2003. Pre-tax earnings were $197,000 in the first quarter of 2004 compared to $352,000 in the first quarter of 2003. As a result of strong profitability over recent quarters, Biotel has consumed previous NOL protection from tax liabilities and started to accrue for income taxes in the quarter ended September 30, 2004.

Biotel President and CEO Steve Springrose said, “We are very pleased with our progress this summer, which combined strong revenues with the establishment of our newly formed Agility division. Strong sales from our OEM products combined with the launch and placement of initial orders from our Agility division produced an exceptional quarter. Biotel experienced additional expenses this quarter related to filing a Form 10 with the Securities Exchange Commission to allow the Company to trade on the over-the-counter Bulletin Board. Additionally, acquisition and start-up expenses were incurred within the Agility group. Biotel is pleased with the operating and financial results of the first quarter, which are consistent with expectations. We look forward to moving onto the Bulletin Board in the weeks ahead.”
10/1/2004
Biotel Announces Revenues and Earnings for the Quarter and Year ended June 30, 2004.
Minneapolis, October 1, 2004 -- Biotel Inc. (Pink Sheets: BTEL) today announced revenues and net income for the year ended June 30, 2004 of $9,309,000 and $1,145,000, respectively, versus revenues and net income of $8,417,000 and $905,000 for the year ended June 30, 2003. Net income increased for the year and three months ended June 30, 2004 as a result of growth in revenues and operating earnings. Additionally, net income for the quarter and year ended June 30, 2004 benefited from an adjustment of the deferred tax valuation allowance, which contributed to a $204,000 tax benefit. This adjustment arose due to the Company's continued profitability and management's belief that the asset will be recognized in future periods. Net income for the year ended June 30, 2003 included a nonrecurring item involving earnings of $500,000 from a life insurance benefit following the death of former Biotel CEO and Chairman Ron Moyer in January, 2003.

For the three months ended June 30, 2004, Biotel management reported revenues and net income of $2,708,000 and $534,000, respectively, versus revenues and net income of $2,173,000 and $129,000 for the three months ended June 30, 2003.

Biotel President and CEO Steve Springrose said, “We are pleased with the exceptionally strong fourth quarter as a capstone to a growth year for Biotel. Close attention to Biotel sales opportunities, the developing needs of our customer base, and control of costs and expenses have strengthened the Company’s financial condition and positioned Biotel for continuing success. Biotel’s recent acquisition of Agility Centralized Research Services, Inc. (“Agility”) strengthens the range of research and clinical testing services the Company can provide to medical companies. Biotel welcomes Agility and looks forward to increasing revenues from the various Biotel subsidiaries in the year ahead. Agility is a newly formed contract research organization that specializes in providing clinical trial support, 24/7 monitoring, and internet data reporting to medical companies requiring ECG information in their clinical trials.”

Biotel Inc. is comprised of four business units, all of which are wholly-owned subsidiaries. Three of the business units, Braemar, Inc., Carolina Medical, Inc. and Agility Centralized Research Services, Inc. sell medical devices, technology and research services to medical companies. They design, manufacture, and test 24- and 48-hour Holter recorders, 30-day ECG event recorders, tissue extraction components, and flow control devices; provide 24/7 clinical ECG research services and internet technologies; and develop and test other custom medical devices. These subsidiaries form a base of products and services which Biotel believes are attractive to medical device and pharmaceutical companies, allowing accelerated and improved research, development, testing, and manufacturing operations. Advanced Biosensor Inc., the fourth business unit, sells Holter diagnostic cardiology software and systems to end users in hospitals and clinics.
9/1/2004
Form 10 Link
This News Item establishes a link to Biotel's Form 10 document.
Instructions: From the Biotel Home Page and under the Recent News Menu, note Form 10 Link and select "read more". Then type Biotel on the SEC data search page, followed by a selection of Form 10SB12G. Select Document 1 to view the principal text of the filing.
8/25/2004
Biotel Files Form 10 to List on Bulletin Board
Biotel Inc. has filed a Form 10 with the US Securities Exchange Commission ("SEC"). Following review, Biotel expects to list its securities for sale on the Bulletin Board. Public information as submitted in the Form 10 may be found upon return to the Biotel Home Page, then selecting "read more". You may find it convenient to follow the instructions as listed under Form 10 Link above.

Alternatively, you may copy and paste the following Web link:

http://www.sec.gov/cgi-bin/browse-edgar?company=biotel&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany

8/24/2004
Industry Leading Medical Device Developer Awards Study to BIOTEL Inc. Subsidiary Agility Centralized Research Services
Minneapolis, August 24, 2004-- Biotel Inc. (Pink Sheets: BTEL) subsidiary Agility Centralized Research Services (ACRS), a leading provider of centralized ECG collection and analysis services today announced that it has been awarded a multi-site data collection and analysis service contract by an industry leading cardiac device company. For competitive reasons, terms of the contract were not disclosed. The study is scheduled to commence late in the third quarter of 2004.

“We are very pleased to have been awarded this important project and look forward to further opportunities as we grow this relationship and leverage the capabilities of our entire organization,” said Daniel Pawlik, President of the BIOTEL subsidiary. “Our recent acquisition by BIOTEL is providing us with immediate access to industry-leading technologies. We will continue to develop and implement products, systems and services that exceed customer expectations”.

Agility Centralized Research Services (“Agility” or “ACRS”) provides centralized ECG research services 24 hours a day, 7 days a week to medical device and pharmaceutical corporations, contract research organizations, and academic research organizations. Agility has offices for sales and administration in suburban Minneapolis, with research service operations in suburban Chicago.


8/10/2004
Biotel Purchases Agility Centralized Research Services, LLC.
Minneapolis, August 10, 2004-- Biotel Inc. (Pink Sheets: BTEL) announced it has completed the purchase of substantially all of the assets of Agility Centralized Research Services, LLC (“Agility”). Agility, founded in November 2003, provides electrocardiogram (“ECG”) data collection and management services supporting cardiac safety and therapeutic evaluation within the clinical trials of medical corporations. Besides providing transtelephonic ECG recording and reporting services on a 24 hour per day/7 day per week worldwide basis to manufacturers in connection with testing medical devices, Agility supplies ECG contract research services to pharmaceutical companies, contract research organizations and academic research organizations. Agility has sales and administration offices in suburban Minneapolis and research service operations in suburban Chicago.

The acquired assets were purchased for $240,000 in cash. Pursuant to the asset purchase agreement, Biotel has agreed to pay up to an additional $260,000 in cash based upon revenues, profits and the value of contracts generated by Biotel's newly-established Agility Centralized Research Services subsidiary. In connection with the asset purchase, Dan Pawlik, the owner of Agility, has joined as President of the new subsidiary.

Biotel President and CEO Steve Springrose commented, “Agility strengthens Biotel’s relationship with medical corporations by adding ECG research services to the Company’s existing technology platforms. Biotel believes this blend of technology and services in the diagnostic cardiology field will help us to be more capable and responsive in meeting the needs of our prospective customers. We are cognizant of the opportunity for growth and earnings within the research and clinical trials market, and look forward to integrating Agility into our operations.”

Dan Pawlik added, “We are proud of the accomplishments and experience of the Agility team, and are happy that each of them will join us in our planned expansion and in the new relationship with Biotel.”

Biotel Inc. is a Minneapolis, Minnesota-based holding company that provides medical devices, software and services primarily used by medical corporations to satisfy their various outsourcing needs. Besides Agility Centralized Research Services, Inc., Biotel’s operating subsidiaries include OEM distributors Braemar, Inc. and Carolina Medical, Inc., which design, manufacture and market 24- and 48-hour Holter recorders, 30-day ECG event recorders, tissue extraction components, flow measurement, control devices and other products to medical companies for use in their product lines, and Advanced Biosensor Inc., which designs, develops and markets diagnostic cardiology software and systems to hospital and clinic end-users.

The statements set forth above include forward-looking statements regarding Biotel Inc.’s, growth opportunities, capabilities, performance, and the successful integration of Agility Centralized Research Services, LLC into Biotel’s operations, which may affect the future financial and operating performance of Biotel. Biotel wishes to caution readers that actual results could differ materially from those in the forward-looking statements due to risks and uncertainties caused by number of important factors. Management undertakes no obligation to update these forward-looking statements.
5/10/2004
Biotel Announces Revenues and Earnings for the Third Quarter Ended March 31, 2004
MINNEAPOLIS, May 10 /PRNewswire-FirstCall/ -- Biotel Inc. (Pink Sheets: BTEL - News) announces revenues and net income for the third quarter ended March 31, 2004, of $2,176,000 and $155,000, respectively, versus revenues and net income of $1,868,000 and $588,000, respectively, for the quarter ended March 31, 2003. Revenues and net income for the nine months ended March 31, 2004, were $6,602,000 and $612,000, respectively, versus revenues and net income of $6,244,000 and $757,000, respectively, for the nine months ended March 31, 2003. Net income for the quarter and nine months ended March 31, 2003, included a nonrecurring item involving the income of life insurance proceeds in the amount of $500,000.
Biotel President and CEO Steve Springrose said, "Biotel made initial deliveries of a new surgical product at Carolina Medical in February, and continues on its plan to increase Biotel revenues and earnings. Furthermore, the Company has retired more than $850,000 of debt since March 31, 2003. Biotel also has restructured its debt in conjunction with a new banking relationship established in March, 2004 at Western Bank of Edina, MN. Net income for the quarter ended March 31, 2004 included a nonrecurring charge of $30,000 for amortization of previously paid bank fees upon closure of the 2001 bank loan. New bank loan fees of $2,000 were expensed. With debt retirement and restructuring, Biotel has reduced its annualized interest payments by more than $85,000 since just one year ago." As a result of a reporting error, Biotel has restated revenues for the quarter ended December 31, 2003, reducing revenues by $130,000 to $2,080,000. Reported earnings are unaffected by the change.
2/13/2004
Biotel Announces Revenues and Earnings for the Second Quarter Ended December 31, 2003
MINNEAPOLIS, Biotel Inc. (Pink Sheets: BTEL) announces revenues and net income for the second quarter ended December 31, 2003 of $2,080,000 and $110,000, respectively, versus revenues and net income of $2,444,000 and $192,000, respectively, for the quarter ended December 31, 2002. Revenues and net income for the six months ended December 31, 2003 were $4,426,000 and $457,000, respectively, versus revenues and net income of $4,376,000 and $169,000, respectively, for the six months ended December 31, 2002.
In the second quarter, Biotel's subsidiary Carolina Medical has received new orders for three surgical devices from a major customer. Carolina Medical President Carroll Turner said, "We are very pleased with the continuing confidence expressed in Carolina Medical by our customers as evidenced by these new orders. This summer's revenue growth came as a result of initial deliveries of a new electromechanical component device, filling the inventory pipeline. In the second quarter there followed a temporary reduction in sales once inventories reached target levels. We are looking forward to routine deliveries of the electromechanical component device and revenues from the new surgical devices in the months ahead."





Biotel Incorporated
1285 Corporate Center Drive, Suite 150
Eagan, MN 55121
info@biotelinc.com