Waukesha-based Cardiac Science Corp. has sold its diagnostic cardiology product line to Milwaukee-based Mortara Instrument Inc.
Cardiac, which is part of Bangalore, India-based medical technology group Opto Circuits Ltd., develops and manufactures advanced diagnostic and therapeutic cardiology devices and systems. Its products include automated external defibrillators, electrocardiograph devices and cardiac stress treadmills. Cardiac has operations in North America, Europe and Asia.
Mortara specializes manufacturing non-invasive ECG technology, including electrocardiographs, stress exercise systems and Holter systems. It has operations in Australia, Germany, Italy, the Netherlands and the United Kingdom.
The sale includes the Burdick and Quinton branded products manufactured at Cardiac Science. It does not include MySense, a wearable ECG Recorder System, and the Resuscitation unit, which sells automated external defibrillators.
“Divestiture of the diagnostic cardiology product line will bring more strategic focus to Cardiac Science,” said Neal Long, CEO, Cardiac Science. “The company will now be able to exclusively focus on innovation and the expansion of market share in its high margin Resuscitation Business.”
Both companies’ boards of directors approved the acquisition. They will both continue to operate under a transition services agreement until the transition is complete.
Acquiring the Burdick and Quinton brands will help Mortara extend its reach into office-based physician practices, clinics and acute care hospitals, said Dr. Justin Mortara, CEO of Mortara.
“The addition of these businesses to our organization represents a marked opportunity to accelerate the introduction of Mortara’s leading ECG technology to new markets,” Mortara said. “As a historic technology supplier to both Burdick and Quinton, we hold an enormous amount of respect for the people and the products behind these established names. We look forward to marrying our ECG expertise with these powerful brands and the know-how behind them to create exciting new solutions for our customers.”