Cardiac Science, an Opto Circuits group company, signed a definitive agreement on March 29, 2013 to sell its diagnostic cardiology product line to Mortara Instrument for an estimated sum of $21 million. The transaction does not include MySense, the wearable, single-patient ECG recorder system and the resuscitation business unit that markets automated external defibrillators (AEDs) worldwide.
“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 and high growth resuscitation business,” said Neal Long, CEO, Cardiac Science.
“The addition of these businesses to our organisation represents a marked opportunity to accelerate the introduction of Mortara’s leading ECG technology to new markets,” commented Dr Justin Mortara, CEO, Mortara Instrument.
EH News Bureau