Cardiac Science Licenses Technology to Medtronic Physio-Control
IRVINE, Calif.--(BW HealthWire)--June 27, 2000--Cardiac Science
Inc. (OTC:DFIB) today announced that it has signed an agreement to
license its proprietary technology to Medtronic Physio-Control, the
world's largest manufacturer of external defibrillators, for
integration into Medtronic Physio-Control's LIFEPAK(R) products for
the hospital market.
Incorporation of Cardiac Science's tachyarrhythmia detection
software will enable Medtronic Physio-Control external defibrillators
to be pre-attached to hospitalized patients identified to be a risk of
cardiac arrest, instantly detect the onset of a lethal heart rhythm
and provide life-saving defibrillation therapy automatically, within
seconds and without the aid of hospital staff.
"Integrating our proprietary technology into the next generation
of hospital defibrillators sold by the worldwide market leader brings
us closer to our goal that all in-hospital cardiac patients get
defibrillated within seconds should they suffer a life-threatening
heart rhythm," said Raymond W. Cohen, president and chief executive
officer of Cardiac Science. "This license agreement, in addition to
our exclusive distribution agreement for Powerheart(R), further
enhances our strategic partnership with Medtronic Physio-Control."
Financial terms of the agreement were not disclosed, however, the
agreement calls for integration of software technology and the sale of
proprietary, disposable defibrillation electrodes worn by the patient.
The defibrillation electrodes must be replaced every 24 hours and
represent a recurring revenue stream for Cardiac Science.
"We know early defibrillation is key to increasing patient
survival from sudden cardiac arrest," said Rene Mitchell, vice
president of worldwide marketing of Medtronic Physio-Control.
"Marrying the Medtronic Physio-Control name and reach to the Cardiac
Science automatic defibrillation technology will speed adoption of the
concept in the hospital environment and should result in improved
survival from cardiac arrest."
About Medtronic Physio-Control
Based near Seattle, Wash., Medtronic Physio-Control, is the
recognized leader in the manufacture, sale and service of external
defibrillators and related medical equipment and accessories. Since
the company pioneered portable defibrillation technology more than 30
years ago, its LIFEPAK products have been used by field emergency
medical personnel and staff at eight out of 10 US hospitals, and now
by first responders such as police and security officers, to save
hundreds of thousands of lives. For more information about Medtronic
Physio-Control, visit the company's website at
physiocontrol.com. 
Medtronic, Inc. (NYSE:MDT), headquartered in Minneapolis, is the
world's leading medical technology company providing lifelong
solutions to people with chronic disease. Its Internet address is
medtronic.com.
About Cardiac Science
Cardiac Science develops and markets life-saving external cardiac
defibrillator devices and proprietary tachyarrhythmia detection
software technology that monitor and automatically treats cardiac
arrest patients. RHYTHMx ECD(TM) tachyarrhythmia detection and
defibrillation software technology, the company's core proprietary
technology platform, has multiple applications including use in
external defibrillators and existing standard bedside patient monitors
widely used in hospitals throughout the world.
Shipments of the Cardiac Science's first commercial product, the
Powerheart(R), began on Dec. 31, 1999. Powerheart continuously
monitors in-hospital patients at risk of sudden cardiac arrest,
instantly detects the onset of a life-threatening heart rhythm, and
when appropriate, automatically delivers defibrillation shocks within
seconds and without human intervention to re-establish the heart's
normal rhythm. The ability to respond to a life-threatening heart
rhythm within seconds saves lives and minimizes a loss of oxygen to
the brain, thereby eliminating potential neurological damage and a
diminished quality of life that often occurs when defibrillation is
withheld for even a few minutes.
Cardiac Science has an exclusive agreement with Medtronic
Physio-Control, a division of Medtronic, Inc., the worldwide market
leader in external defibrillator products, to distribute the
Powerheart in the U.S., Canada, and nine European countries. Cardiac
Science's global network consists of prominent distributors in 41
countries encompassing Asia, the Middle East, Europe, South America
and North America. For more information, visit
cardiacscience.com
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Act of 1934. Such forward looking statements
include, but are not limited to: The Powerheart's safety and efficacy,
it's ability to increase survival rates for in-hospital cardiac arrest
victims, its ability to improve patient-care and lessen patient
debilitation; The Company's ability to successfully integrate its
technology into Medtronic Physio-Control's LIFEPAK products. Cardiac
Science cautions that these statements are qualified by important
factors that could cause actual results to differ materially from
those reflected by the forward-looking statements. Other factors
include, but are not limited to: hospital operations; market and
clinical users' acceptance of new and existing products; impact of
competitive products and pricing; and changing market conditions.
Information on these and other factors are detailed in the Company's
Form 10-K for the year ending December 31, 1999 and other documents
filed with the Securities and Exchange Commission. The Powerheart and
RHYTHMx ECD are trademarks of Cardiac Science Inc. LIFEPAK is a
trademark of Medtronic Physio-Control.
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CONTACT: Cardiac Science Inc.
Michael Gioffredi, 949/587-0357 |
