Cardiac Science Acquires Cadent Medical for $22.5 Million

Cardiac Science Inc. (Irvine, CA) has acquired Cadent Medical Corp. (Bedford, MA), a privately held company that has developed a cell phone-size defibrillator worn by mobile cardiac patients, for $22.5 million in stock.

Cardiac Science plans to integrate its proprietary software into the new device to insure that a patient, whether in a hospital or at home, automatically receives an immediate defibrillation shock if a life-threatening heart rhythm is detected. Cadent Medical also offers additional technology for use in Cardiac Science's existing and planned product line.

"This acquisition extends our product reach beyond the hospital to the emerging at-home market," said Raymond W. Cohen, Cardiac Science president and CEO. "We intend to complete the product development, gain regulatory clearance and have the device to market within 18 months."

Cadent Medical's other intellectual properties include patent filings, proprietary mini-defibrillation electrodes.

Cardiac Science develops and markets life-saving external cardiac defibrillator devices and proprietary software that monitor and automatically treats cardiac arrest patients.

In June 2000, Cardiac Science licensed its proprietary technology to Medtronic Physio-Control for integration into Medtronic Physio-Control's Lifepak products for the hospital market.

Edited by Ursula Jones