Biosensor changes name to Biotel; stock split is okayed
Biosensor (Minneapolis, Minnesota) has changed its name to Biotel Inc. and has authorized increasing its shares of common stock to 10 million and the authorized shares of preferred stock to 2 million. Stockholders approved splitting the company’s common stock, one share for each eight shares outstanding.
Biosensor makes Holter monitors, ultrasound imagers, other medical instruments, and the associated Windows and Internet software for processing medical data. In a statement, the company said that the name change "reflects the broadening nature of our business and our acquisition strategies, which include plans to expand our involvement in the emerging field of biomedical telecommunications using the Internet, satellite, and cellular networks for improved patient monitoring."
The trade names Advanced Biosensor and Diagnostic Monitoring will continue to be used by the company’s newly formed subsidiary, Advanced Biosensor.