Opto Circuits’ subsidiary, Cardiac Science, rationalizes its product offering by spinning off its Diagnostic Cardiology product line
Cardiac Science, an Opto Circuits group company, signed a definitive agreement on 29th March 2013 to sell its Diagnostic Cardiology product line to Mortara Instrument, Inc. for an estimated consideration of USD 21 Million. The transaction does not include MySense®, the novel, 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 organization represents a marked opportunity to accelerate the introduction of Mortaras leading ECG technology to new markets, commented Dr. Justin Mortara, CEO.