Cardiac Science, an Opto Circuits group company, has signed a definitive agreement to sell its Diagnostic Cardiology product line to US-based Mortara Instrument, Inc. for an estimated consideration 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, the company said in a statement.
“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.
Mortara Instrument Inc. is headquartered in Milwaukee, Wisconsin with operations in Australia, Germany, Italy, the Netherlands, and the United Kingdom. Mortara is a provider of non-invasive cardiology products including electrocardiographs, stress exercise systems, Holter systems, data warehousing solutions, and cardiology monitoring systems.
The company manufactures and distributes its ECG devices and related technologies worldwide.
Prior to this acquisition, Cardiac Science developed, manufactured and marketed a family of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AED), electrocardiograph devices (ECG/EKG), cardiac stress treadmills and systems, diagnostic workstations, Holter monitoring systems and hospital defibrillators among others.
