Business Operations to Remain Normal and Uninterrupted Following Restructuring Announcement

Cardiac Science continues to take important steps to strengthen its company and has begun reorganization under Chapter 11 of the United States Bankruptcy Code.

  • This was a voluntary action initiated by the new Board of Directors and is the right step for the company at this time.
  • The new Board, along with the Leadership Team, took this action to strengthen the Cardiac Science balance sheet and position it for future growth.
  • The Company has an experienced team assembled to successfully and quickly lead it through this process

Chapter 11 means restructuring not liquidation.

  • Despite what you might hear, Cardiac Science is NOT going out of business.
  • Great organizations such as General Motors, Chrysler, Macy’s, 7-Eleven, and even the Chicago Cubs have successfully emerged from restructuring stronger than ever.

During this process, it is business as usual for Cardiac Science.

  • There is no reason for customers to delay, change, or cancel orders or replace Cardiac Science AEDs as we will support them now and in the future.
  • Cardiac Science will continue to supply pads, batteries, and other accessories needed to service and support our installed customer base.
  • Cardiac Science will stand by our warranty and indemnification policies.
  • Cardiac Science will also continue to sell new AEDs including the Powerheart® G5 and G3.
  • Cardiac Science certified AED Specialists will continue working closely with our authorized partners to add new customers, grow market share, and, most importantly, save lives.
  • Cardiac Science will continue to train, support and service our Rescue
    Ready® customers
  • The customer service and technical support team are still available during business hours 7 am – 5pm CST.

The Company has special financing in place to fund normal business operations:

  • The new investor has committed to provide financing during our restructuring.
  • The financing combined with positive cash flow from operations will provide sufficient funding to meet company obligations.

We are confident that Cardiac Science will emerge from this process quickly as a stronger company.

  • This process ensures we will have the resources to improve and grow the business and better serve customers.

Thank you for your continued support, confidence, and loyalty.