BOTHELL, Wash., Sept. 14 Cardiac Science Corporation (Nasdaq: CSCX), a global leader in automated external defibrillator (AED) and diagnostic cardiac monitoring devices, announced a three-year agreement with Patni Computer Systems under which Patni will establish a dedicated design center in India and will expand Cardiac Science's existing in-house design and development capability.
"One of our strategies is to increase the volume and frequency of new product introductions, particularly in Cardiac Monitoring. We have great brands and distribution channels we want to better leverage," said Dave Marver, Cardiac Science president and chief executive officer. "This agreement provides us the resources and flexibility to pursue multiple new product development initiatives simultaneously."
Patni specializes in the design and engineering of Class II and III medical devices and is a global leader in providing high-quality, reliable, and cost effective Product Engineering and IT Services. Ajay Chamania, Patni's EVP and global head of product engineering services, said, "Patni has several years experience helping companies in the medical device industry reduce time and cost to market while ensuring complete regulatory compliance. We are thrilled with the opportunity to do the same for Cardiac Science."
"Our mandate is to increase the speed-to-market while keeping costs in check," said Bob Odell, senior vice president of strategy, design, and operations for Cardiac Science. "This agreement, like the Syncroness relationship we announced earlier this year, dramatically increases our engineering capacity and allows internal team members to focus on changing market dynamics, new customer solutions, and new revenue opportunities."
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 treadmill and systems, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, 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(R), HeartCentrix(R), Powerheart(R), and Quinton(R) 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.
About Patni Computer Systems
Visit http://patni.com for more information on Patni Computer Systems.
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 expectations regarding cost savings or improved research and development capabilities 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.
For more information,
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