October 20, 2010 (FinancialWire) (Investrend Information Syndicate) (Go to http://www.financialwire.net/?s=nnddadn for more India In-Focus articles.) — Cardiac Science Corp. (NASDAQ: CSCX) and Opto Circuits Ltd. said they have entered into a definitive merger agreement under which Opto Circuits has agreed to acquire all of the outstanding shares of Cardiac Science common stock for $2.30 USD per share.

The $2.30 price represents a 10% premium to the closing price of Cardiac Science common stock of $2.10 on October 18, a 28% premium to the average closing price for the 30 day period ended October 18, and a 30% premium to the average closing price for the 100 day period ended October 18.

The boards of directors of both companies have unanimously approved the transaction, which will take the form of an all-cash tender offer by a wholly-owned subsidiary of Opto Circuits, followed by a second-step merger.

Opto Circuits said it will fund the purchase with its cash and credit lines.

Washington-based Cardiac Science develops, manufactures, and markets a line of diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators, electrocardiograph devices, cardiac stress treadmills and systems, diagnostic workstations, Holter monitoring systems, hospital defibrillators, vital signs monitors, cardiac rehabilitation telemetry systems, and cardiology data management systems that connect with hospital information, electronic medical record, and other information systems.

India-based Opto Circuits  is an Indian MNC in the business of design, development, manufacture and marketing of healthcare equipment and interventional products. The product profile includes pulse oximeters, patient monitoring systems, sensors, digital thermometers, anesthesia and respiratory care equipment, stents, catheters and other products.

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