Cardiac Science and Quinton Cardiology to Merge

In a move to combine their respective strengths in the development and marketing of cardiology devices, Cardiac Science (Irvine, CA, USA) and Quinton Cardiology Systems (Bothell, WA, USA) have agreed to merge.

The new holding company will be called Cardiac Science Corp. Following an exchange of stock, Cardiac Science's shareholders will own about 51% of the new entity, while Quinton's shareholders will own about 49%. The two companies have similar missions, business models, and technology expertise, and both will continue to focus on supplying cardiology products and services on a global basis to hospitals, doctor's' offices, and public places. The combined company will have a diversified portfolio of cardiology-related products, under well-known brand names that include Burdick, Quinton, and Powerheart.

The new company will also have enhanced distribution access to U.S. medical markets and will have distribution in more than 90 countries around the world. The principals estimate the new company will save U.S.$10 million in annual operating expenses and will eliminate $9 million in annual interest expense.

"With a well-established global presence, millions in cost savings, and a balance sheet free of long-term debt, we expect the new company to be well-positioned to achieve significantly greater size and scale,” commented John R. Hinson, president and CEO of Quinton Cardiology.





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Cardiac Science
Quinton Cardiology