Cardiac Science and Quinton Cardiology to Merge 3791

Originally Published MX March/April 2005

BUSINESS NEWS

Cardiac Science Inc. (Irvine, CA), a manufacturer of automatic public-access defibrillators, and Quinton Cardiology Systems Inc. (Bothell, WA), which makes cardiovascular monitoring equipment, have announced their intention to merge and form a new holding company to be called Cardiac Science Corp.

In a joint statement, the companies cited their "similar missions, business models, technology expertise, and operational processes." The companies said the merger will "combine their respective strengths in development, manufacturing, and marketing of cardiology devices, services, and supplies and create a diversified, well-capitalized medical technology growth company with a broad portfolio of cardiology-related products."

Under the terms of the agreement, each share of Cardiac Science will be worth 0.10 of a share in the new company, while each Quinton share will be valued at 0.77. The company will be 51% owned by the current Cardiac Science shareholders and 49% owned by holders of Quinton Cardiology.