HeartSine Technologies has been sold to Physio-Control
Lincoln International (“Lincoln”), a leading global mid-market investment bank, has announced the sale of HeartSine Technologies (“HeartSine”) to Physio-Control, Inc. (“Physio-Control”), a portfolio company of Bain Capital.
HeartSine, a world leader in public access defibrillators, advances the deployment of lifesaving defibrillation therapy for the treatment of sudden cardiac arrest in non-traditional areas of care. Designed for use in public areas, the company’s products include the samaritan® PAD family of AEDs for public access. HeartSine is active in over 70 countries worldwide in a wide range of environments. HeartSine is based in Belfast, Northern Ireland, and Newtown, Pennsylvania. The integration of technologies from both companies is expected to enhance engineering capability, accelerate product development and expand research and development capabilities for advanced treatment in the resuscitation field.
Physio-Control, headquartered in Redmond, Washington, was founded in 1955 and is the world’s leading provider of professional emergency medical response solutions that predict or intervene in life-threatening emergencies. The company’s products include LIFEPAK® monitors/defibrillators and automated external defibrillators, the LIFENET® System, HealthEMS® electronic patient care reporting (ePCR) software, LUCAS® 2 Chest Compression System, TrueCPR™ coaching device, McGrath® MAC EMS video laryngoscope and implementation for PulsePoint mobile bystander response applications.
The companies share a strong scientific and technical focus with important, often parallel histories. The pioneer of direct current defibrillation, Physio-Control has partnered with leading emergency medical systems since the 1960s and commercialized the first home-use AED, the LIFEPAK 100, in 1986. HeartSine’s founder, Professor John Anderson, worked with the pioneer of out-of-hospital mobile coronary care, Dr. Frank Pantridge, in Belfast in the 1960s and 1970s. Professor Anderson was part of the team that developed the world’s first mobile coronary care unit.
Lincoln acted as the exclusive financial advisor to HeartSine, working closely with the company’s management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
Declan O’Mahoney, CEO of HeartSine, remarked, “This transaction is a tremendous success for the team at HeartSine, the stakeholders and our customers. All are extremely pleased as Lincoln helped us navigate a very complex and highly competitive process.”
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