BIOMEDICAL SYSTEMS
Ray Barrett founded Biomedical Systems in 1975 and developed the technology to transmit electrocardiograph data over phone lines. This foundation allowed for innovation in transmitting all types of medical data in the following years.
Biomedical began pioneering the ability to record electrocardiographic data directly from the patient to a recording device worn by the patient. This capability is referred to as Holter monitoring. This Holter capability has become a medical standard throughout the world.
The further developments in technology in the transmission of electrocardiographic data provided Biomedical a pathway to offer a solution to pharmaceutical companies for their clinical trials. Centralizing data pioneered by Biomedical Systems is now a pharmaceutical industry standard.
Ray and his three sons managed the company. Tim has a law degree from St. Louis University and served as CEO. Dan also has a law degree from St. Louis University and served as Chief Operating Officer. Pat has a master’s in business from Washington University in St. Louis and served as Chief Marketing Officer. Ray’s daughter Kathleen Barrett Ruth has a teaching degree from Vanderbilt University and served as a consultant to the human resource divisions in St. Louis, Missouri, and Brussels, Belgium. Ray served as Chairman.
In 2017 Biomedical Systems approached annual revenue of $100 million. These revenues were driven by the 400 employees working in the St. Louis headquarters and the Brussels Belgium office.
Ray and his sons were contacted by a large investment group from Sweden who owned a similar company in Philadelphia. They made an offer that was acceptable to management and Biomedical Systems was sold in 2017.