M&A Deal Summary

Opto Circuits Acquires Cardiac Science

On December 3, 2010, Opto Circuits acquired medical products company Cardiac Science from Perseus for 55M USD

Acquisition Highlights
  • This is Opto Circuits’ 2nd transaction in the Medical Products sector.
  • This is Opto Circuits’ 2nd largest (disclosed) transaction.
  • This is Opto Circuits’ 3rd transaction in the United States.
  • This is Opto Circuits’ 2nd transaction in Wisconsin.
Investment Fate
  • Cardiac Science was divested to a consortium of buyers in 2016.
  • Cardiac Science was sold to a strategic buyer in 2019.

M&A Deal Summary

Date 2010-12-03
Target Cardiac Science
Sector Medical Products
Buyer(s) Opto Circuits
Sellers(s) Perseus
Deal Type Add-on Acquisition
Deal Value 55M USD

Target

Cardiac Science

Waukesha, Wisconsin, United States
website
Cardiac Science Corp. is a developer, manufacturer, and marketer of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AEDs), electrocardiograph devices (ECGs), cardiac stress systems and treadmills, 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. Cardiac Science Corp. was founded in 1913 and is based in Waukesha, Wisconsin.

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Buyer(S) 1

Buyer

Opto Circuits

Bangalore, India

website


Category Company
Founded 1992
Sector Medical Products
Employees1,840
Revenue 1.8B INR (2020)
DESCRIPTION

Opto Circuits (India) Ltd. manufacture technologically-advanced medical equipment and devices for modern healthcare practices. Opto Circuits (India) was founded in 1992 and is based in Bengaluru, India.


DEAL STATS #
Overall 3 of 3
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Wisconsin) 2 of 2
Country (United States) 3 of 3
Year (2010) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-27 Unetixs Vascular

North Kingstown, Rhode Island, United States

Unetixs Vascular, Inc. designs, develops and markets a full line of world class, vascular diagnostic systems and accessories.

Buy $10M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-27 Cardiac Science

Waukesha, Wisconsin, United States

Cardiac Science Corp. is a developer, manufacturer, and marketer of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AEDs), electrocardiograph devices (ECGs), cardiac stress systems and treadmills, 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. Cardiac Science Corp. was founded in 1913 and is based in Waukesha, Wisconsin.

Sell -

Seller(S) 1

SELLER

Perseus

Washington, District of Columbia, United States

website


Category Merchant Bank
Founded 1995
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Perseus is a private equity firm focused on middle-market buyouts, recapitalizations, and growth equity investments. Perseus looks businesses operating with proven management, strong brands, and 'powerful intellectual property'. Sectors of interest include biotechnology, medical devices, branded consumer products, business services, information technology, communications, and energy/environmental service companies. Perseus was formed in 1995 and maintains offices in Washington DC, New York City, and Munich.


DEAL STATS #
Overall 22 of 31
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 16 of 22
State (Wisconsin) 1 of 2
Country (United States) 19 of 27
Year (2010) 1 of 1
Size (of disclosed) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-25 Cymbet

Elk River, Minnesota, United States

Cymbet is an energy technology company that has developed unique, micro-energy and back-up power solutions for the electronics industry. Its line of EnerChip thin-film batteries has been developed for use in products such as cell phones, medical devices, and wireless sensors. Cymbet was founded in 2000 and is based in Elk River, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-15 Evergreen Solar

Marlboro, Massachusetts, United States

Evergreen Solar, Inc. is a developer and manufacturer of photovoltaic (PV) modules used in remote power and emerging grid-connected markets.

Sell -