HP to Acquire Heartstream, Inc.
Deal Strengthens HP's Commitment to AHA's Cardiac "Chain of Survival"
PALO ALTO, Calif., and SEATTLE--(BW HealthWire)--Dec. 29, 1997-- Hewlett-Packard Company and Heartstream,
Inc. today announced that they have signed an agreement under which HP is expected to acquire Heartstream. Heartstream,
which is based in Seattle, develops automated external defibrillators. The acquisition is intended to complete HP's range of
external defibrillators aimed at the cardiac-care continuum, from trained lay responders to highly trained clinical users.
Under the terms of the agreement, Heartstream's stockholders will receive, in exchange for their shares of Heartstream
common stock, shares of HP common stock, the number to be determined by dividing $11 by the average closing price of HP
common stock for the five trading days ending on the trading day before the closing. The transaction is expected to close by
early spring, pending completion of customary closing conditions and receipt of Heartstream stockholder and required
government approvals.
Very disappointing, I always thought that HTST was worth a LOT more than that. |
