Instrumentarium to Divest Cardiology Monitoring Unit

An agreement to sell the cardiology business subsidiary of its Spacelabs Medical division for US$ 24 million to Quinton Cardiology Systems, Inc. (Bothell, WA, USA) has been announced by Instrumentarium (Helsinki, Finland). The cardiology subsidiary is Burdick, Inc. (Deerfield, WI, USA).

Burdick is a supplier of electrocardiogram (ECG) cardiographs, Holter monitors, stress testing systems, and cardiology information systems. The company had net sales of about $38 million in 2001. Quinton is a provider of cardiac stress testing systems, cardiac rehabilitation equipment, Holter monitoring devices, and ECG management systems. Quinton's 2001 sales were $42.9 million.

As part of the transaction, Quinton and Spacelabs Medical have entered into a cooperative sales and marketing agreement for certain products as well as an agreement to cross-license certain intellectual property related to ECG technologies and systems. Instrumentarium acquired Spacelabs Medical in July 2002, in a move to strengthen its presence in the critical care patient-monitoring market.





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