Cardiac Science Makes a Public Offer for Artema Medical.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Jan. 10, 2001 In a press release today, Cardiac Science Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DFIB) announced a public offer for all outstanding shares in Artema Medical AB. Affarsstrategerna AB, Artema's largest owner representing 7.7% of the shares and 8.2% of the votes in Artema has favourably received and accepted the offer. The offer is worth some USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 million based upon the closing price of the Cardiac Science share as of January 9, 2001. The offer amounts to USD 20 million at a share price of Cardiac Science between USD 4.50-6.00. If the Cardiac Science share price exceeds USD 6.00, the purchase price will increase proportionally. If the Cardiac Science share price falls below USD 4.50, the purchase price will decrease proportionally. Payment will be made in Cardiac Science shares. Cardiac Science, listed on the NASDAQ Stock Exchange, develops and markets life saving external cardiac defibrillator defibrillator, device that delivers an electrical shock to the heart in order to stop certain forms of rapid heart rhythm disturbances (arrhythmias). The shock changes a fibrillation to an organized rhythm or changes a very rapid and ineffective cardiac rhythm to a devices and proprietary software that monitors and automatically treats patients who suffer from life-threatening heart rhythms. The company's proprietary tachyarrhythmia tachyarrhythmia /tachy·ar·rhyth·mia/ (tak?e-ah-rith´me-ah) any disturbance of the heart rhythm in which the heart rate is abnormally increased. tach·y·ar·rhyth·mi·a n. detection and defibrillation Defibrillation Definition Defibrillation is a process in which an electronic device sends an electric shock to the heart to stop an extremely rapid, irregular heartbeat, and restore the normal heart rhythm. business is well in line with Artema's business orientation. The product portfolio includes disposable electrodes, portable defibrillators, and patient monitors for cardiac monitoring. Growth of the company's installed base provides recurring revenue from sales of proprietary, disposable, defibrillator electrodes." Artema Medical is a niche oriented, research led, med-tech company and its products are sold in more than 80 countries and 98% of sales are exported. Artema develops, manufactures and markets equipment for measuring and monitoring vital patient parameters within the fields of anesthesia, intensive care and emergency care. The Artema share is listed on the OM Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. O-list since May 4, 1999. - Cardiac Science's offer is well in line with Artema's long-term strategy to find a partner. Through this deal, Artema gets access to new technology within the defibrillation area and gains presence on the US market, which contribute substantially to improved growth opportunities. Artema's installed product base opens up an excellent expansion opportunitiy for this new constellation," says Claes-Goran Fridh, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Affarsstrategerna AB and Chairman of Artema. Affarsstrategerna is a leading seed investment venture capital company listed on the OM Stockholm Stock Exchange O-list. Affarsstrategerna invests value-added capital in innovative start-ups, operating in IT/Internet, Wireless and Life Science/Medical Technology, and has the potential to become market leader in its niche. Some of the companies in the portfolio are: A Brand New World, Alpha Helix alpha helix n. The helical form, turned in a right-handed direction, of many proteins. , ARCTIC BioPharm Production, Artema, Chemel, Doorways Education, European Institute of Science, Fingerprint Cards, FreeHand See Macromedia FreeHand. Communication, InfiniCom, Mainbox, Megacon, Mocat, Musicbrigade, Naty, Netbaby World, Picron Microarrays, RaySearch Laboratories, RS Cordless Technology, Samba Sensors, Skolboken.se, SWATS, Webupdate, Widermind and Yesitworks.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/10/20010110BIT00850/bit0001.doc http://www.bit.se/bitonline/2001/01/10/20010110BIT00850/bit0002.pdf |
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