Cardiac Science and Quinton Cardiology Systems Announce Signing

Press Release:

Cardiac Science and Quinton Cardiology Systems Announce Signing of Definitive Merger Agreement

Press Release
News Article March 2005

IRVINE, Calif., and BOTHELL, Wash., Feb. 28 /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 the signing of a definitive merger agreement. The transaction will combine their respective strengths in development, manufacturing and marketing of cardiology devices, services and supplies and create a diversified, well-capitalized medical technology growth company with a broad portfolio of cardiology-related products, including the prominent brand names Burdick(R), Quinton(R), and Powerheart(R). The companies have similar missions, business models, technology expertise and operational processes and will continue to focus on supplying cardiology products and services on a global basis to hospitals, physician's offices, and public places.

The transaction was unanimously approved by the boards of directors of both companies and is anticipated to close during the third quarter of 2005, subject to regulatory review, the approval of its respective shareholders and other customary closing conditions. The new management team, comprised of executives from both companies, will be led by John R. Hinson, Quinton's current President and Chief Executive Officer, and Michael K. Matysik, Quinton's current Chief Financial Officer, who will each continue in those roles for the combined company. Raymond W. Cohen, Cardiac Science's current Chairman and Chief Executive Officer, will serve as Chairman of the Board of Directors and Dr. Ruediger Naumann-Etienne, Quinton's current Chairman, will serve as Vice-Chairman. The nine member board, which will include five independent members, will be comprised of five current Quinton directors and four current Cardiac Science directors.

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