BOTHELL, Wash., Nov. 11 Cardiac Science Corporation (Nasdaq: CSCX), a global leader in automated external defibrillator (AED) and diagnostic cardiac monitoring devices, appointed Peter Kingma as senior vice president, effective immediately. In this new role, Mr. Kingma reports to Dave Marver, president and chief executive officer, and oversees the Company's sales, marketing, and service functions.
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"Our growth plans require that our customer-facing capabilities be outstanding," said Dave Marver, Cardiac Science president and chief executive officer. "We will be launching a series of new products in 2010 that leverage our well-known brands, distribution strength, and large customer base. Peter will help us make the most of those launches and build long-term advantage for the Company through our commercial functions. He also has significant global and business management expertise which will help us fully exploit our many opportunities for international expansion."
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Mr. Kingma, 52, worked for Siemens from 1985 to 2008 where he held a number of significant leadership roles in the cardiac technology space. He served as Global Vice President-CT Division in Germany, US Vice President and Business Manager-CT Division, and US Vice President and Business Manager-Molecular Imaging Division. He also served as Managing Director of Siemens Medical Solutions in Australia/New Zealand, and in several senior product and business management roles in Southern Africa. Mr. Kingma has lived and worked in the US, Germany, South Africa, and Australia.
In connection with Mr. Kingma's hiring, the compensation committee of the Company's board of directors approved an inducement grant made outside of the Company's 2002 Equity Incentive Plan pursuant to which Mr. Kingma has been awarded, effective as of close of business on November 16, 2009, a 10-year option to purchase 50,000 shares of common stock of the Company at an exercise price equal to the closing price of the common stock on the Nasdaq Stock Market on the date of grant, with 25 percent of the option to vest after one year of service from the date of grant, and the remaining portion of the option to vest at a rate of 1/36th per month for the next three years thereafter.
Mr. Kingma has an Electrical Engineering (LC) from the Cape Peninsula University of Technology in Cape Town, South Africa and executive business training from the London School of Economics and Duke University's Fuqua School of Business.
About Cardiac Science:
Cardiac Science develops, manufactures, and markets a family of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AED), electrocardiograph devices (ECG/EKG), cardiac stress test treadmills and systems, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, vital signs monitors, and cardiology data management systems (informatics) that connect with hospital information (HIS), electronic medical record (EMR), and other information systems. The company sells a variety of related products and consumables and provides a portfolio of training, maintenance, and support services. Cardiac Science, the successor to the cardiac businesses that established the trusted Burdick(®), HeartCentrix(®), Powerheart(®), and Quinton(®) brands, is headquartered in Bothell, Washington. With customers in more than 100 countries worldwide, the company has operations in North America, Europe, and Asia. For information, call 425.402.2000 or visit http://www.cardiacscience.com.
For updates and information on worldwide defibrillation and cardiac monitoring, find us on the Cardiac Science blog at http://www.cardiacscience.com/blog, Twitter at http://twitter.com/cardiacscience, Facebook at http://budurl.com/CSonFB, YouTube at http://www.youtube.com/user/CardiacScience.
Forward-Looking Statements
This press release contains forward-looking statements. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, those relating to Cardiac Science Corporation's growth strategies and planned new product launches and the resulting impact on operating results. These are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause or contribute to such varying results and other risks are more fully described in Cardiac Science Corporation's Annual Report on Form 10-K for the year ended December 31, 2008, as updated by subsequent quarterly reports on Form 10-Q. Cardiac Science Corporation undertakes no duty or obligation to update the information provided herein.
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Company Contact: Investor Contact: Media Contact: Mike Matysik Matt Clawson Christopher Gale Cardiac Science Corporation Allen & Caron EVC Group Inc. Senior Vice President and CFO 949.474.4300 646.201.5431 425.402.2009 [email protected] 203.570.4681 [email protected]
SOURCE Cardiac Science Corporation
