Cardiac Science Sells Diagnostic Cardiology Product Line to Mortara Instrument
April 2, 2013 — Cardiac Science announced a definitive agreement was signed March 29 to sell its diagnostic cardiology product line to Mortara Instrument Inc. The business consists of the Burdick and Quinton brands and associated products. The transaction does not include MySense, the novel, wearable, single-patient ECG recorder system or the resuscitation business unit, which markets automated external defibrillators (AEDs) worldwide.
The boards of directors of both companies have approved the transaction. The companies are currently operating under a transition services agreement whereby Cardiac Science continues to support the business as a full transition plan is implemented. Cardiac Science customers will continue to receive technical, sales and customer service through the existing channels until they are notified otherwise.
"Divestiture of the diagnostic cardiology product line will bring more strategic focus to Cardiac Science. The company will now be able to exclusively focus on innovation and the expansion of market share in its high margin resuscitation business, " said Neal Long, CEO, Cardiac Science.
"The addition of these businesses to our organization represents a marked opportunity to accelerate the introduction of Mortara's leading ECG technology to new markets," commented Justin Mortara, CEO. "As a historic technology supplier to both Burdick and Quinton, we hold an enormous amount of respect for the people and the products behind these established names. We look forward to marrying our ECG expertise with these powerful brands and the know-how behind them to create exciting new solutions for our customers."
For more information: www.mortara.com, www.cardiacscience.com