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: Mortara Instrument, Inc.
