WAUKESHA, Wis., Jan. 27, 2016 /PRNewswire/ — Aurora Resurgence, an affiliate of Aurora Capital Group, announced today that it has completed the acquisition of the assets of Cardiac Science Corporation. The acquisition concludes a successful restructuring for the global leader in the manufacturing and marketing of automated external defibrillators (AEDs).
The company begins 2016 with a healthy balance sheet, a strong financial partner and tremendous growth prospects for its market-leading AED products and services.
“We are excited to complete this transaction in an expedited time frame, with no disruption to our distribution partners or customers. Our valued partners and customers can expect continued world-class support for their AEDs while we grow the Powerheart® AED community of passionate people and organizations committed to saving lives,” said Al Ford, President of Cardiac Science. “This is an exciting day for our employees, our customers, and our partners.” Ford added that business operations continue to be streamlined as Aurora Resurgence provides the company with the capital necessary to support improved efficiencies and reduced lead times.
“We look forward to a long and successful partnership with the Cardiac Science team,” said Sean Ozbolt, Partner at Aurora Resurgence. “Legislation, demographic trends, and increased awareness continue to drive AED market penetration globally. We believe Cardiac Science is well positioned to capitalize on these trends and further increase its position as an innovative leader in AED deployment.”
Livingstone, an international mid-market M&A and debt advisory firm, advised Cardiac Science on the sale process.
About Cardiac Science
Cardiac Science develops, manufactures, and markets automated external defibrillators (AEDs) and related parts, components, and accessories. The company also provides a comprehensive portfolio of training, maintenance, and support services for AED customers and holds more than 100 AED related patents. Headquartered in Waukesha, Wis., Cardiac Science has operations in North America, Europe and Asia and has deployed more than 500,000 AEDs throughout the world to fight sudden cardiac arrest (SCA). SCA kills more than 17.3 million people each year globally, according to the American Heart Association. For information, call 1.800.426.0337 or visit www.cardiacscience.com.
About Aurora Capital Group
Aurora Capital Group is a Los Angeles-based investment firm formed in 1991 that acquires and builds companies in partnership with operating management. The firm currently manages approximately $2 billion in capital and is committed to investing in companies with unique, defensible market positions. Aurora is dedicated to generating long-term value principally through investing the time and resources necessary to enhance the fundamentals of each of its businesses. Aurora Resurgence is focused on investing in the debt and equity securities of middle market companies, targeting complex situations that are created by operational or financial challenges either within a company or a broader industry. For more information on Aurora Capital Group, visit www.auroracap.com.
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