Livingstone Shocks New Life Into Cardiac Science

Livingstone’s Special Situations team, has advised the shareholders of Cardiac Science Corporation on the sale of the business to Aurora Resurgence, an affiliate of Aurora Capital Group. The sale was consummated pursuant to §363 of Chapter 11 of the United States Bankruptcy Code.

Cardiac Science is a leading global provider of automated external defibrillators (“AEDs”) and related training, maintenance, and support services. The Company’s customers include a broad array of corporations, communities, police/fire departments, emergency medical systems, governments/militaries, and hospitality and healthcare companies. The company has supplied over 550,000 AEDs in over 100 countries.

“The Livingstone team was quick to prove their expertise under difficult circumstances,” said Al Ford, President of Cardiac Science. “Within a very short timeframe, Livingstone conducted an efficient and competitive sale process that generated significant strategic interest in the company. This transaction is an excellent result for all of our stakeholders and we look forward to the next phase of growth with Aurora Resurgence as our partner.”

“Livingstone’s special situations team continues to generate outstanding results for clients under a variety of difficult circumstances,” said Joseph Greenwood, Partner at Livingstone Chicago, who has noted an increase in restructuring activity across the middle market. “Despite the robust M&A market currently, we continue to remain extremely active advising companies in distress seeking capital solutions across a variety of different industries.”

The sale of Cardiac Solutions represents Livingstone’s seventh successful transaction in the Healthcare sector in the last 12 months, most recently the sale of Infinity to Amedisys.

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