Cardiac Science (NASDAQ:DFIB)
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Cardiac Science and Quinton to Present Merger Information to
Investment Community
Presentation Materials Will Be Available on Their Websites
IRVINE, Calif. and BOTHELL, Wash., March 7 /PRNewswire-FirstCall/ -- Cardiac
Science, Inc. (NASDAQ:DFIB), a leading manufacturer of life-saving automatic
public-access defibrillators, and Quinton Cardiology Systems, Inc.
(NASDAQ:QUIN), a global leader in advanced cardiology products, today announced
that Cardiac Science Chairman and CEO Raymond W. Cohen and Quinton President
and CEO John R. Hinson are scheduled to make joint presentations to
institutional investors and others in the investment community this week and
during the next several weeks relating to the proposed merger of Cardiac
Science and Quinton.
The presentation materials used in conjunction with these presentations will be
made available on the websites of both companies,
http://www.cardiacscience.com/ and http://www.quinton.com/, by 5:00 p.m. EST on
Tuesday, March 8, 2005; filed with the Securities and Exchange Commission; and
publicly available at its website, http://www.sec.gov/. Presentation materials
will include, among other things, a summary of both companies businesses, the
strategic and financial reasons for the merger and the general benefits to
shareholders of the combination.
About Quinton Cardiology Systems
Quinton, with operations in Bothell, WA, Deerfield, WI and Shanghai, China,
develops, manufactures, markets and services a family of advanced cardiology
products such as electrocardiographs, cardiac stress test systems, Holter
monitors, cardiac rehabilitation telemetry systems, and cardiology data
management systems used in the diagnosis, monitoring and management of patients
with cardiovascular disease. Quinton markets its products under the Quinton(R)
and Burdick(R) brand names. In the U.S., Quinton products are sold to
hospitals and the physician office market through a 55-person sales
organization, as well as through multiple national and regional distributors.
Internationally, Quinton products are marketed by independent distributors in
over 90 countries around the world. In 2004, Quinton was recognized by the
Puget Sound Business Journal as one of the ten fastest growing public companies
in Washington State. For more information, please visit
http://www.quinton.com/ or contact Quinton at (425) 402-2009.
About Cardiac Science
Cardiac Science, with operations in Irvine and Lake Forest, CA, Minneapolis,
MN, Manchester, England and Copenhagen, Denmark, develops, manufactures and
markets Powerheart(R)-brand automatic public-access defibrillators (AEDs) and
offers comprehensive AED/CPR training and AED program management services that
facilitate successful deployments. Cardiac Science also makes the
Powerheart(R) CRM(TM), the only FDA-cleared therapeutic patient monitor that
instantly and automatically treats hospitalized cardiac patients who suffer
life-threatening heart rhythms. In the U.S., Cardiac Science products are sold
to corporations, police and fire departments, state and local municipalities,
the federal government and schools by its 55-person direct sales force, and
certain national and local distributors. Internationally, Cardiac Science
products are sold direct in the United Kingdom and by independent distributors
in over 50 countries. Cardiac Science also manufactures its AED products on a
private label basis for other leading medical companies such as Quinton
Cardiology Systems, Nihon Kohden (Japan) and GE Healthcare. In 2004, Cardiac
Science was recognized by Deloitte & Touche as the 4th fastest growing
technology company in North America and as the fastest growing company in
Orange County, CA. For more information, please visit
http://www.cardiacscience.com/ or contact Cardiac Science at (949) 797-3800.
Where to Find Additional Information about the Merger
Under the terms of the merger agreement, the parties have formed a new
corporation, CSQ Holding Company, and two wholly-owned acquisition subsidiaries
of CSQ Holding Company that will merge with and into Quinton and Cardiac
Science, respectively. As part of the transaction, Quinton will also merge
into CSQ Holding Company. Cardiac Science and Quinton intend to cause CSQ
Holding Company to file a registration statement on Form S-4 containing a proxy
statement/prospectus in connection with the merger transaction. Investors and
security holders are urged to read this filing when it becomes available
because it will contain important information about the transaction. Investors
and security holders may obtain free copies of these documents (when they are
available) and other documents filed with the Securities and Exchange
Commission at the Securities and Exchange Commission's web site at
http://www.sec.gov/. In addition, investors and security holders may obtain
free copies of the documents filed with the Securities and Exchange Commission
by Cardiac Science by contacting Cardiac Science Investor Relations at
(949)-474-4300. Investors and security holders may obtain free copies of the
documents filed with the Securities and Exchange Commission by Quinton by
contacting Quinton Investor Relations at (425) 402-2009.
Cardiac Science and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the stockholders of Cardiac
Science in connection with the mergers. Information regarding the special
interests of these directors and executive officers in the transaction
described herein will be included in the joint proxy statement/prospectus of
Cardiac Science and Quinton described above. Additional information regarding
the directors and executive officers of Cardiac Science is also included in the
Cardiac Science proxy statement for its 2004 Annual Meeting of Stockholders,
which was filed with the Securities and Exchange Commission on or about
November 22, 2004. This document is available free of charge at the Securities
and Exchange Commission's web site at http://www.sec.gov/ and from Cardiac
Science by contacting Cardiac Science Investor Relations at (949) 474-4300.
Quinton and its directors and executive officers also may be deemed to be
participants in the solicitation of proxies from the stockholders of Quinton in
connection with the mergers. Information regarding the special interests of
these directors and executive officers in the transaction described herein will
be included in the joint proxy statement/prospectus of Cardiac Science and
Quinton described above. Additional information regarding these directors and
executive officers is also included in Quinton's proxy statement for its 2004
Annual Meeting of Stockholders, which was filed with the Securities and
Exchange Commission on or about April 14, 2004. This document is available
free of charge at the Securities and Exchange Commission's web site at
http://www.sec.gov/ and from Quinton by contacting Quinton Investor Relations
at (425) 402-2009.
This press release includes forward-looking statements. These statements may
be identified by the use of forward-looking terminology such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend," "may," "might,"
"plan," "potential," "predict," "should," or "will," or the negative thereof or
other variations thereon or comparable terminology. Quinton and Cardiac Science
have based these forward-looking statements on the current expectations,
assumptions, estimates and projections. While Quinton and Cardiac Science
believe these expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, many of which are beyond our
control. Certain factors, including those discussed in Quinton's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2004, under the heading
"Certain Factors That May Affect Future Results," and in Cardiac Sciences'
Prospectus dated February 7, 2005, filed pursuant to Rule 424b(3), under the
heading "Risk Factors," may cause the actual results, performance or
achievements to differ materially from any future results, performance or
achievements expressed or implied by these forward-looking statements. Given
these risks and uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. We do not undertake any obligation to update
any such statements or to publicly announce the results of any revisions to any
such statements to reflect future events or developments.
For Cardiac Science Investors
Matt Clawson (Investors)
Len Hall (Media)
Allen & Caron Inc
(949) 474-4300
Cardiac Science
Roderick de Greef
EVP and CFO
(949) 797-3800
Quinton Cardiology Systems
Mike Matysik
Sr. Vice President and CFO
(425) 402-2009
DATASOURCE: Cardiac Science, Inc.; Quinton Cardiology Systems, Inc.
CONTACT: Investors, Matt Clawson, or Media, Len Hall, both of Allen &
Caron Inc, +1-949-474-4300, for Cardiac Science Investors; or Roderick de
Greef, EVP and CFO of Cardiac Science, +1-949-797-3800; or Mike Matysik, Sr.
Vice President and CFO of Quinton Cardiology Systems, +1-425-402-2009
Web site: http://www.quinton.com/
Web site: http://www.cardiacscience.com/