Apr 2 2013
Cardiac Science, an Opto Circuits group company, announced today a definitive agreement signed on 29th March 2013 to sell its Diagnostic Cardiology product line to Mortara Instrument, Inc.
The business consists of the well-known Burdick and Quinton brands and associated products. The transaction does not include MySense®, the novel, wearable, single-patient ECG Recorder System and 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 Dr. 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 than three decades, Mortara has proudly served the non-invasive diagnostic cardiology market with innovative product solutions in the areas of Resting ECG, Holter, Cardiac Stress Testing and Patient Monitoring. "The inclusion of these two world-class brands into the Mortara portfolio will result in an unsurpassed choice in products and services for our global client base. With this strategic move, Mortara expands its reach into office-based physician practices, clinics, as well as increases its growing presence in the acute care hospital market," said Mortara.
Source: http://www.cardiacscience.com/